A fresh batch of earnings could help investors continue the rally Thursday. The Dow is set to open slightly higher.
Stocks surged Wednesday afternoon in a delayed response to the Federal Reserve's half-point cut to interest rates Tuesday. The Dow Jones industrial average starts above the 11,000 mark for the first time this year, at 11,215.92, after gaining 3.2 percent. The Nasdaq composite index surged 3.9 percent Wednesday, leaving it at 2,166.44.
Though economic news isn't likely to garner much attention right after the Federal Reserve's most recent interest rate cut, investors may note a couple of reports. The weekly jobless claims report is expected to have risen from the preceding week. But it isn't expected to surpass the key 400,000 level. The April Index of Leading Indicators from the Conference Board is also due Thursday, after the markets open, and is expected to show a 0.1 percent increase, compared with the 0.3 percent decline in March.
Stocks to Watch
Earnings were well above First Call estimates of 16 cents a share. Revenue for the quarter was $425.4 million, up 20 percent from the first quarter and 129 percent from a year ago.
At the Bell
The Dow Jones industrial average may open 25 points higher. The Standard & Poor's 500 index for June futures contracts was up 2.9 points to 1291 at 7:35 a.m. EDT in 24-hour electronic trading.
Reuters contributed to this report.