NEW YORK (CNN/Money) - An unexpectedly strong productivity figure helped push U.S. stock futures higher Thursday, indicating a higher opening for stocks, ahead of outgoing Fed chairman Alan Greenspan's appearance before Congress.

The Labor Department said growth in non-farm productivity, or worker output per hour, grew at a 4.1 percent annual rate from July to September after an upwardly revised 2.1 percent second-quarter gain. That's higher than Wall Street expectations for 2.5 percent growth.

Greenspan testifies before the Joint Economic Committee beginning at 10 a.m. ET. The Federal Reserve raised rates to 4 percent on Tuesday and suggested more rate hikes could follow.

There's also a full docket of economic reports for investors to digest Thursday morning.

The Labor Department reported weekly initial claims for unemployment benefits slipped to 323,000 for the week of Oct. 29 from a revised 331,000 the prior week.. Economists had expected the number to have increased to 330,000.

At 10 a.m. ET, the Commerce Department is expected to release data on September factory orders. Economists forecast a 1 percent decline for demand for durable goods compared to a 2.5 percent gain in the prior month.

Also on tap for Thursday are the Institute for Supply Management's services index reading for October and retail comparable sales numbers for October.

Major markets in Asia closed higher Thursday, while major European markets also advanced in early trading.

Oil prices were higher early Thursday, climbing above the $60 benchmark. U.S. crude gained 67 cents to $60.42 a barrel in electronic trading, while Brent crude trading in London rose 72 cents to $59.10 a barrel.

Treasury prices were higher, with the yield on the 10-year note slipping to 4.58 percent from 4.60 percent late Wednesday. The dollar was weaker against the euro but rose versus the yen.

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