By Denny Gulino and Kevin Kastner

WASHINGTON (MNI) - Initial claims for U.S. state unemployment benefits dropped 24,000 to 456,000 in the April 17 employment survey week after seasonal adjustment and some of the drop was "not unrelated" to the surges in the previous two weeks, according to data released by the U.S. Labor Department Thursday morning.

By Joseph Plocek

WASHINGTON (MNI) - The U.S. March PPI seems like 'old news' after the CPI was released last week, and the unemployment claims data are suggesting economic stabilization.

Initial unemployment claims fell 24,000 to 456,000 for the April 17 week, the payroll survey period. This compares to 454,000 in mid-March and suggests little change in labor market conditions after a holiday-related spike earlier.

There was nothing unusual in the data, a Labor Department economist said.

By Sheila Mullan

WASHINGTON (MNI) - The following are excerpts released by the White House from President Obama's speech on financial reform that he will give Thursday in New York:

One of the most significant contributors to this recession was a financial crisis as dire as any we've known in generations. And that crisis was born of a failure of responsibility - from Wall Street to Washington - that brought down many of the world's largest financial firms and nearly dragged our economy into a second Great Depression.

By Sheila Mullan

By Sheila Mullan

NEW YORK (MNI) - David Greenlaw, Morgan Stanley chief U.S. economist, Wednesday night said that his firm feels the Fed will tighten rates in September and he projects a 3.2% GDP in 2010 and 2.5% in 2011, in large part contingent on higher rates in the second half of next year.

SINGAPORE, April 22 (MNI) - The U.S. dollar ended in Asia still under pressure against the yen Thursday, dragged by weaker yen crosses but was about unchanged on the euro, which managed to regain some lost ground despite worries about Greece's fiscal situation and a bailout plan.

Near the end of the session, dollar-yen was at Y92.95 compared with where it had started the session, at Y93.05 and down from Y93.14 near the U.S. close overnight.

SINGAPORE, April 22 (MNI) - The U.S. dollar was mixed in Asia Thursday, as weaker yen crosses dragged it lower versus the Japanese currency although it held firm on the euro, with concerns about Greece's fiscal situation and a bailout plan still whittling away at the currency's value.

By midday here, dollar-yen was at Y92.80 compared with where it had started the session, at Y93.05 and down from Y93.14 near the U.S. close overnight.

Euro-dollar was at $1.3386 after a $1.3374 to $1.3397 morning range, and down from $1.3400 traded ahead of the U.S. close overnight.