Is the air getting thin yet?
Investors may tread carefully Thursday in the absence of major economic or corporate news, but U.S. stock futures were pointing higher ahead of the open as markets look to scale new peaks.
The Department of Labor released a better-than-expected weekly report on initial jobless claims, which could add fuel to a potential rally. Claims fell to 332,000 last week. Economists polled by Briefing.com had expected 350,000 new filings.
The Dow Jones industrial average eked out its ninth straight day of gains Wednesday -- the longest winning streak since 1996, the year of former Fed Chairman Alan Greenspan's "irrational exuberance."
Related: Dow's best run since 1996
Men's Wearhouse (MW) soared 13% in premarket trading Thursday, a day after reporting earnings, a $200 million share buyback and new guidance.
On the corporate front, Cosi (COSI) and Krispy Kreme (KKD) will report fourth-quarter results after the bell.
Shares of Blackberry (BBRY) extended their gains Thursday, a day after the company announced that it received one million orders for its Blackberry 10 device from an unnamed partner.
E*Trade (ETFC)shares fell 5% in premarket trading after a major shareholder said it planned to sell its entire stake in the company.
Related: Fear & Greed Index moves into extreme greed
European markets were higher in midday trading, with Germany's DAX leading the way.
"Europe will see the start of a two-day European leader summit in Brussels today and a draft statement indicated that leaders will endorse plans for 'structural' assessments of national budgets focusing on 'growth-friendly fiscal consolidation,'" wrote Deutsche Bank analyst Jim Reid, in a note to investors. "Be interesting to actually see what the latter actually means!"
Asian markets also ended firmer. Japan's Nikkei was up 1.2% but the Shanghai Composite and Hong Kong's Hang Seng continued to lag on talk of efforts to control rising prices.
"We shall take measures, including monetary policy adjustments, to stabilize prices, and lower inflation expectations," Zhou Xiaochuan, China's central bank governor, said Wednesday.
