U.S. stock-index futures rose on Thursday, as crude's climb above $50 a barrel overrode U.S. economic reports and an unexpected move by the Swiss National Bank, which abandoned its peg against the euro.
U.S. oil futures rose as high as $51.27 a barrel, and were lately up 3.8 percent at $50.30 a barrel on the New York Mercantile Exchange.
The government said wholesale prices fell 0.3 percent in December, while another Labor Department report had a larger-than-expected number of Americans filed for jobless benefits last week, with claims rising by 19,000 to 316,000.
"Claims are up more than expected, (and) the possibility of deflation is escalating. As far as the market is concerned, the saving grace is oil prices are back over $50, it helps negate some of the sour earnings out of the banking sector today," said Peter Cardillo, chief market economist at Rockwell Global Capital.
Swiss stocks tumbled 10 percent and the Swiss franc soared as much as 30 percent against the euro and traded 12 percent higher against the dollar, after the bank ditched its three-year-old cap against the euro.