US Markets

US stock futures whipsaw after ECB keeps rates unchanged

Stocks rally as Dow Transports hit all-time high

U.S. stock index futures traded slightly higher on Thursday as traders digested the European Central Bank's decision to keep interest rates unchanged.

The central bank also extended its quantitative easing program until December 2017, but will reduce purchases to 60 billion euros per month. ECB President Mario Draghi is expected to hold a news conference later on Thursday.

Futures initially fell after the central bank made its announcement before holding higher.

In Europe, the pan-European Stoxx-600 index was around 0.6 percent higher on Thursday.

Back in the U.S., initial jobless claims came in line with expectations.

On Wednesday, the Dow and S&P hit new record highs with the Trump-inspired rally showing little sign of petering out. The Dow Jones industrial average gained nearly 300 points.