U.S. stocks rose Wednesday.
NEW YORK (CNNMoney)
The Labor Department will release its weekly report on initial jobless claims at 8:30 a.m. ET, while the Commerce Department will publish its second estimate of fourth-quarter GDP.
In its initial estimate last month, the Commerce Department said the economy contracted at an annual rate of 0.1% in the fourth quarter, the first contraction since the second quarter of 2009.
On the corporate front, firms including Sears (SHLD, Fortune 500) and Barnes & Noble (BKS, Fortune 500) are set to report quarterly results in the morning, while Gap (GPS, Fortune 500) is up after the bell.
U.S. stock futures were steady ahead of the open on Thursday.
Fear & Greed Index
U.S. stocks rose Wednesday as investors welcomed more upbeat housing data and a second day of dovish testimony from Federal Reserve chairman Ben Bernanke. The Dow finished at its highest level since October 2007.
J.C. Penney (JCP, Fortune 500) shares plunged in after-hours trading Wednesday as the retailer reported dismal fourth-quarter earnings and same-store sales.
Not to be outdone, Groupon (GRPN) shares slumped 26% after the daily deals site's earnings missed already-low expectations.
Shares of Sturm, Ruger & Co. (RGR) rose in after-hours trading as the gun maker reported earnings that beat expectations. The company benefited from a surge in firearm sales on fears of new gun-control laws following the reelection of President Obama and the shooting in Newtown, Conn.
European markets were firmer in morning trading, drawing support from comments from European Central Bank President Mario Draghi that suggested the bank had room to relax policy further.
Asian markets had a banner day. After the nomination of Haruhiko Kuroda to be Japan's next central banker, the Nikkei posted a 2.7% increase. The Shanghai Composite rose 2.3% and the Hang Seng added 2.0%.
First Published: February 28, 2013: 4:41 AM ET
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