U.S. stocks look set for a mixed open Thursday, amid the busiest reporting session of the earnings season, even as global markets extend gains after the Federal Reserve signaled a pause in its rate hike plans and a series of blue-chip companies posted stronger-than-expected earnings and profit guidance that eased concerns over the prospect of a damaging slowdown in China.

Global stocks extended gains Thursday, with markets in Asia rising to the highest level in four months, after the U.S. Federal Reserve signaled a pause in its rate hike plans and a series of blue-chip companies posted stronger-than-expected earnings and profit guidance that eased concerns over the prospect of a damaging slowdown in China.

Jim Cramer weighs in on Union Pacific, Praxair, Trinity Industries, MGM Resorts, Energy Transfer Partners, AeroVironment, Duluth Holdings.

Jim Cramer explains how this selloff works and who the culprits are, puts it in context and outlines your action plan.

"We think we're well positioned for growth in fiscal year 2023 ... having said that, we did take a cautious approach to Greater China," said CFO Matthew Friend.

Stock futures higher on global growth bets; Morgan Stanley leads bank gains after dividend boost; Nike slides as margin pressures offset Q4 earnings beat; Playtika shares surge on report of Joffre Capital interest and Occidental shares jump as Buffett adds more to stake

"As a result of market instability ... no third party has been able to make an offer that adequately reflects the high potential value of Boots," Walgreens said.