Stock futures continue to point to a higher open, holding onto earlier gains after the government reported claims for initial unemployment came in just slightly worse than expected.
A surprise report from IBM also helped prop up futures, as did a rally in European markets.
On Wednesday, IBM surprised investors by releasing its quarterly results earlier than expected.
Big Blue reported a 20% jump in third-quarter profit to $2.05 a share, handily topping analyst estimates by 4 cents a share. IBM also reaffirmed its full-year outlook. Shares of IBM rose nearly 5% in premarket trading.
To help bolster the markets, the Bush administration is considering taking ownership stakes in certain U.S. banks, as part of the $700 billion bailout package that was approved last week, according to the Associated Press.
Also, the New York Federal Reserve said late Wednesday that it is lending up to $37.8 billion to AIG, just three weeks after the Fed extended an $85 billion taxpayer-funded credit line to the troubled insurance giant.
Meanwhile, credit markets remain tight as lenders stay wary of taking on any unnecessary risk. Libor, the overnight bank lending rate, slipped to the still-high 5.09% from the previous rate of 5.38%, according to Bloomberg.com data. The 3-month Libor rate rose to 4.75% from 4.52%.
The price of oil traded within a narrow range, dropping 19 cents a barrel to $88.76.