America store Futures pointed to gains for the third straight day as key averages set their sights on all-time highs amid a flurry of earnings news.
Dow Jones Industrial Average futures rose 78 points, or 0.22%, while S&P 500 futures and Nasdaq 100 futures rose 0.2% and 0.18%, respectively. All three major averages closed within 0.6% of their respective record peaks on Wednesday.
In stocks, earnings reports continued.
American Airlines Inc posted quarterly profit for the first time in six quarters, helped by a rebound in travel and more than $1 billion in federal support.
Rival Southwest Airlines Co. said its quarterly loss has narrowed and it “expects” it to be profitable for the rest of the year as leisure travel picks up. The airline said it turned cash flow positive in June.
CSX Corp. Its quarterly profit more than doubled as the rail operator carried 27% more freight than a year ago.
AT&T Inc. reported strong wireless subscription additions, driven by more customers switching to 5G phones. The company increased both its full-year revenue and adjusted earnings per share outlook.
DR Horton reported a 77% increase in quarterly profit compared to a year ago as tight supply led to record prices. The homebuilder raised its forecast for 2021 revenue and home deliveries.
Chipmaker Texas Instruments Inc posted strong quarterly results but warned that the current quarter could disappoint.
On the economic front, 419,000 Americans applied for jobless benefits for the first time last week, the Labor Department said Thursday. Wall Street analysts polled by Refinitiv were expecting 350,000 filings.
In deals, Visa Inc. agreed to buy UK-based cross-border payments provider CurrencyCloud at a valuation of £700 million ($962 million). Visa has had a stake in CurrencyCloud since last year.
In commodities, West Texas Intermediate crude jumped 80 cents to $71.10 per barrel and gold by $8.60 to $1,794.80 an ounce.
Overseas markets were up across the board.
Germany’s DAX 30 and France’s CAC 40 rose 0.92% and 0.78%, respectively, ahead of the European Central Bank’s interest rate decision. Elsewhere in the region, Britain’s FTSE 100 rose 0.13%.
In Asia, Hong Kong’s Hang Seng index rose 1.83% and China’s Shanghai Composite rose 0.34%. Japan’s Nikkei 225 remained closed for the day.