It looks like positive developments in Ukraine are giving markets a boost.
Here are the five things you need to know before the opening bell rings in New York:
1. Ukraine ceasefire: There could be light at the end of the tunnel for war-torn Ukraine.
Leaders from Ukraine, Russia, France and Germany have agreed on a ceasefire that's due to start Sunday. Those involved in the bloody conflict in Eastern Ukraine have agreed to pull back heavy weapons.
The main stock market index in Ukraine is surging by about 6%.
The new ceasefire agreement is raising hopes that tensions between Western nations and Russia could ease, since the U.S. and Europe have accused Russia of supporting separatist fighters in Eastern Ukraine.
This comes just hours after the International Monetary Fund announced it would give Ukraine a new $17.5 billion bailout package to help stabilize the nation's reeling economy.
2. Greece is the word: European political leaders will continue negotiating a deal aimed at ensuring Greece can repay its debts and remain in the eurozone.
Little progress was made during talks between finance ministers on Wednesday. European leaders are expected to continue discussing the issues Thursday, while finance ministers will resume their negotiations Monday.
The goal is to avert a new crisis that could force Greece to drop the euro.
Greece's new government says it wants to tear up the existing international bailout program and win six months of bridge financing to give it breathing space to negotiate a longer term solution.
The current bailout program is set to end on February 28.
3. Stocks rising: U.S. stock futures and European markets are moving higher Thursday. The main stock market index in Germany -- the Dax -- is rising by more than 1%.
Most Asian markets ended the day with gains.
4. Earnings and economics: Dr. Pepper Snapple (DPS), World Wrestling Entertainment (WWE), Manchester United (MANU) and Kellogg (K) are reporting earnings before the opening bell.
CBS (CBS), Kraft (KRFT) and Zynga (ZNGA) will report after the close.
Shares in Tesla (TSLA) declined in extended trading after the company posted earnings that missed analysts' expectations.
On the economic front, the U.S. government will report weekly jobless claims at 8:30 a.m. ET.
The U.S. Census Bureau will post January retail sales, also at 8:30 a.m.
In the U.K., the Bank of England released its latest inflation report.
5. Wednesday market recap: The main U.S. indexes posted muted results Wednesday. The Dow Jones industrial average lost 7 points, the S&P 500 was unchanged and the Nasdaq rose by 0.3%.
