Futures on major U.S. point to a higher opening on Thursday after rallied in the previous session.

Futures on the S&P 500 are up 0.50 percent, futures on the Dow Jones Industrial Average are up 0.40 percent and Nasdaq100 futures are up 0.46 percent.

On Wednesday, US stock markets started December with a strong rally on a slew of good economic data, including jobs, productivity and regional growth.

Ahead of the Friday's August nonfarm payrolls report, payroll firm ADP Employer Services said on Wednesday that small businesses added 93,000 workers in November, well above analysts’ forecasts, suggesting a strong non-farm payroll report this Friday.

Investors are likely to focus on initial jobless claims and pending home sales data, which will give more clues about the strength of the economic recovery.

The Department of Labor is due to report the initial jobless claims data at 8:30 am EDT. The economists forecast initial jobless claims to be 423,000 for the week ended November 27 against 407,000 of the previous week. Any data that is weaker than expected will weigh on market sentiments.

After the opening bell, a report on pending home sales for the month of October is expected to show that sales witness a drop following drop in the existing home sales and new home sales reported last week.

The euro advanced 0.43 percent to 1.3196 against the dollar and the yen gained 0.07 percent against the greenback.

Crude oil futures gained 0.30 percent to $87.01/barrel ahead and gold futures advanced 0.32 percent.

European stock markets advanced ahead of the European Central Bank (ECB) interest rate decision and press conference. Markets are currently trading higher with FTSE 100 up by 49.81 points, DAX30 up by 32.67 points and CAC 40 up by 35.87 points.