After a rocky start to the week, U.S. equity markets have rallied for two consecutive days and it looks like they may still have room to run Thursday.
U.S. stock futures were higher ahead of the opening bell.
Investors will be looking to jobs and income data Thursday morning for more clues about the strength of the economic recovery.
The Labor Deparmtent said Initial claims for unemployment benefits fell 9,000 to 346,000 in the week ended June 22.
Separately, Americans' personal income rose 0.5% in May, while spending increased 0.3%, according to the Commerce Department.
The reports were in-line with economists' estimates.
Investors have been taking their cues from U.S. economic data as they attempt to gauge when the Federal Reserve will begin to slow the pace of its bond buying program.
Fed officials have kept investors on their toes recently and two top central bank officials are scheduled to speak later Thursday, including New York Fed president William Dudley.
In corporate news, ConAgra Foods ( shares rose after the company said it swung to a profit in is fiscal fourth quarter. Shares of )KB Home ( were also higher after the homebuilder said losses narrowed in the second quarter. )
Accenture ( and )Nike ( will release results after the market close. )