Updated from earlier with information on the ECB.

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Here are five things you must know for Thursday, Dec. 8:

1. -- U.S. stock futures were trading slightly higher and European stocks rose after the European Central Bank left interest rates unchanged though extended its stimulus timeline to the end of next year.

The ECB left its bond buying at 80 billion euros a month until March 2017. Bond buying will then drop to 60 billion euros a month in April and will extend until December 2017, though could be pushed out further if needed, the bank said.

Asian shares finished Thursday's session mostly higher following upbeat trade data from China.  Exports in China grew in November for the first time in nine months while imports also rose in a sign that global and domestic demand were recovering.

The economic calendar in the U.S. on Thursday includes weekly Initial Jobless Claims at 8:30 a.m. EST.

Oil prices in the U.S. rose 0.56% early Thursday to $50.05 a barrel.

2. -- Shares of Costco(COST) - Get Report  were rising 1.9% in premarket trading after the warehouse retailer said profit in its fiscal first quarter jumped 13.5% from a year earlier and same-store sales rose 1%.

Earnings of $1.24 a share topped Wall Street forecasts of $1.19, while net sales of $28.1 billion came in slightly below analysts' estimates of $28.3 billion.

Costco is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells COST? Learn more now.

Sears (SHLD)  shares fell 1% in premarket trading after the struggling retailer posted a fiscal third-quarter adjusted loss of $3.11 a share vs. a year-earlier loss of $2.86. Net sales in Sears' third quarter plunged 13.8% to $5.0 billion.

Earnings are also expected Thursday from Broadcom(AVGO) - Get Report , Ciena(CIEN) - Get Report  , Finisar(FNSR) - Get Report  and 

3. -- The Office of the Comptroller of the Currency is ready to fail Wells Fargo(WFC) - Get Report on a national scorecard for community lending, sources familiar with the decision told Reuters.

The move could limit near-term expansion for the bank.

Wells Fargo is due to be deemed a bank that "needs to improve" under the Community Reinvestment Act, a law meant to promote lending to poor neighborhoods, Reuters reported. The move is a two-notch downgrade from the "outstanding" tag Wells Fargo has held since 2008 and the change would give regulators a greater say on day-to-day matters like whether the bank may open new branches.

The ruling from the OCC, the main regulator for national banks, is due by early January, the sources told Reuters.

Wells Fargo was $185 million in September under an agreement with regulators who said bank employees may have opened up to 2 million customer accounts fraudulently in order to meet sales goals.

Wells Fargo is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells WFC? Learn more now.

4 -- TheRussian government said Glencore (GLNCY) , the world's biggest commodity group, had bought a stake in state-controlled oil company Rosneft (RNFTF)

Glencore said in a statement Thursday that it was in "final stage negotiations" along with Qatar's sovereign wealth fund to buy a 19.5% stake in Rosneft, the country's biggest oil group, for €10.2 billion ($11 billion).

"It is the largest privatization deal, the largest sale and acquisition in the global oil and gas sector in 2016," said Russian President Vladimir Putin, who met Rosneft CEO Igor Sechin on Wednesday in Moscow. 

Russia has been pushing for privatization of some of its state-owned businesses in a drive to reverse downturns caused by economic slowdowns and sanctions.

5. -- Apple(AAPL) - Get Reportis pressing Hollywood studios for earlier access to movies, Bloomberg reported, citing people with knowledge of the matter.

21st Century Fox, Time Warner's Warner Bros. and Comcast's Universal Pictures all confirmed over the past week that they are looking to offer high-priced, home-video rentals of new movies shortly after they open in theaters. Some studio executives have been pushing to allow home rentals as early as two weeks after theatrical debuts and are considering a deal with Apple's iTunes as one option, the people told Bloomberg.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.