Stocks set to rise on Euro optimism

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NEW YORK (CNNMoney) -- U.S. stocks were set to open higher Thursday, as investors took in the latest interest rate decisions from the Bank of England and European Central Bank.

Stock futures had been higher all morning but the ECB decision to hold rates steady dampened some of that enthusiasm. The latest reading on U.S. unemployment claims brought back some of that early support.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all 0.5% higher ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

The death of tech luminary Steve Jobs on Wednesday drew attention to Apple (AAPL, Fortune 500), as investors sought to determine what his loss will mean for the tech giant's stock and the company's long-term success.

But Europe remains and the forefront of investors' minds.

The European Central Bank announced Thursday morning it was holding interest rates steady -- a move that cut into the futures rally in the United States. The ECB may offer further clues about efforts to contain the region's debt crisis during its press conference.

Meanwhile, the Bank of England said it was holding interest rates steady at 0.5% and extending its bond-buying program -- news that was welcomed by global markets.

Talks surrounding a recapitalization of European banks have intensified, and German Chancellor Angela Merkel reiterated her country's commitment to moving swiftly to address problems in Greece.

However, any real solution to Europe's debt crisis is still in the distant future.

"Any jump could be short lived, because these measures could just fluff up asset prices rather than solve the underlying issues that are really causing problems for the eurozone," said Manoj Ladwa, a senior trader at ETX Capital.

U.S. stocks rallied on Wednesday as investors focused on positive news out of the eurozone.

World markets: European stocks climbed in morning trading. Britain's FTSE 100 (UKX) rose 2.1%, the DAX (DAX) in Germany increased 2.2% and France's CAC 40 (CAC40) added 2.3%.

Asian markets ended higher. The Hang Seng (HSI) in Hong Kong rose 5.7% and Japan's Nikkei (N225) ticked up 1.7%. Shanghai is closed all week for holiday.

Economy: The Labor Department's closely-watched weekly initial jobless claims data released Thursday morning showed that 401,000 Americans filed for unemployment claims last week. The figure came in just below economists expectations of 402,000 but above the previous week's 391,000 claims.

The most important number of the week is Friday's employment report from the Labor Department. A CNNMoney survey of 22 economists forecasts that the U.S. economy added 65,000 jobs overall, with the unemployment rate expected to remain unchanged at 9.1%.

Companies: Investors will keep a close watch on Apple (AAPL, Fortune 500) shares after the death of Steve Jobs, due to the visionary's outsized role at the company. Shares were slightly lower in premarket trading.

Citing a bank executive, the Wall Street Journal reported that Bank of America's (BAC, Fortune 500) week-long website troubles are due to botches in a technology upgrade.

Currencies and commodities: The dollar fell against the euro, the Japanese yen and the British pound.

Oil for November delivery gained $1.89 to $80.77 a barrel.

Gold futures for December delivery rose $11.00 to $1,652.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury dropped, pushing the yield up to 1.90% from 1.89% late Wednesday.