Updated from 6:49 a.m. EDT
Here are 10 things you should know for Thursday, June 5:
1. -- U.S. stock futures were trading higher Thursday as the markets cheered the European Central Bank's unprecedented moves to help stimulate the eurozone economy.
The ECB on Thursday cut the refi rate to 0.15% and the marginal lending rate to 0.4% and decided in favor of slashing the deposit rate to negative territory for the first time at -0.1%. The decision demonstrated the ECB's commitment to fighting a prolonged period of low inflation that has been adding to worries over a faltering economic recovery.
2. -- Weekly initial jobless claims rose 8,000 to 312,000, which remains close to a seven-year low.
3. -- U.S. stocks on Wednesday rose modestly, as investors waited to hear a decision on interest rates from the ECB.
The S&P 500 added 0.19% to close at 1,927.88, the Dow Jones Industrial Average rose 0.9% to 16,737.53, while the Nasdaq climbed 0.41% to 4,251.64.
4. -- Sprint (S) and T-Mobile US (TMUS) have agreed on the broad outlines of a merger valuing T-Mobile at around $32 billion, The Wall Street Journal reported, citing people familiar with the matter.
The terms involve Sprint paying around $40 a share for T-Mobile in an acquisition that could happen early this summer, the people told the Journal. The companies are still working toward a formal contract. If the deal is completed, it would combine the country's third- and fourth-largest wireless operators
A deal would need the approval of the Federal Communications Commission and the Justice Department.
Sprint shares rose 3.6% in premarket trading to $9.74. T-Mobile shares rose 1% to $34.61.