Stocks rallied Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

Futures indicated a higher open for Wall Street on Thursday as investors were encouraged by the latest jobless report and round of corporate earnings.

Merchants across the nation have spent years unsuccessfully fighting interchange fees, which generates an estimated $40 billion to $50 billion in income annually for banks that issue credit cards. But after Congress passed a law last month to protect consumers from excessive fees and interest on credit cards, merchants are mounting a fresh offensive.

Despite swelling delinquencies and reform pressure from the government, credit card companies are using pricing power and staying power to emerge as a favorite among market pros.

Investors, start-ups and major corporations are pouring money into services that make it easier to use cellphones to buy goods and transfer money, the New York Times reports.

A crackdown on credit limits by card companies is squeezing the nation’s 27 million small businesses, exacerbating the problems brought on by a stagnant economy.

Credit card holders who in ordinary years might have used their tax refunds to pay down their balances apparently spent the money elsewhere as the recession deepened in the first quarter.