Here are 10 things you should know for Thursday, July 24:
1. -- U.S. stock futures were rising on Thursday ahead of home sales data and following sharply higher earnings from Facebook (FB).
European stocks reversed early losses to move higher after positive manufacturing data pointed to a eurozone recovery. Asian shares ended the session mixed.
2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, and new home sales for June at 10 a.m.
3. -- U.S. stocks on Wednesday closed mixed Wednesday as investors digested earnings from some of the biggest market players including Apple (AAPL), PepsiCo (PEP) and Microsoft (MSFT).
The S&P 500 climbed by 0.18% to close at 1,987.01, skimming record highs set earlier in the day. The Nasdaq gained 0.4% to 4,473.70. The Dow Jones Industrial Average ticked 0.16% lower to finish at 17,086.63.
4. -- Online social network Facebook (FB) reported sharply higher second-quarter earnings on increasing revenue from mobile advertising.
Facebook earned $788 million, or 30 cents a share, in the quarter, up from $331 million, or 13 cents a share, a year earlier.
Adjusted earnings were 42 cents share; Wall Street was looking for 33 cents.
Revenue rose 61% to $2.91 billion, ahead of forecasts of $2.8 billion.
Advertising revenue jumped 67% to $2.68 billion. Mobile ad revenue was $1.66 billion, or 62% of Facebook's total advertising revenue for the quarter. Mobile ads accounted for 59% of the company's total ad revenue in the period.