NEW YORK (TheStreet) -- U.S. stock futures were rising Thursday, with the broader market looking at a third day of gains as international markets climbed on upbeat manufacturing news and earnings season continued to gain positive traction. Dow Jones Industrial Average futures were up 25 points, or 31.37 points above fair value, to 17,050. S&P 500 futures were rising 3 points, or 2.94 points above fair value, to 1,983.75. Nasdaq futures were up 11.5 points, or 8.56 points above fair value, to 3,987. U.S. stocks closed mixed Wednesday, with the S&P 500 logging its 71st closing all-time high. July 24 Premarket Briefing: 10 Things You Should Know Stock Market Today: Record Intraday Moves for S&P 500 on Apple, Pepsi Earnings European Stocks Rise on Strong Manufacturing Data "The market continues to remind investors that the trend remains their friend, as it focuses on earnings growth while shrugging off global hostility concerns and the downward revision to second-quarter GDP growth estimates from above 3.5% to below 3% currently," wrote Sam Stovall, managing director of U.S. equity research at S&P Capital IQ. Stovall noted that the market may be indicating that investors should be encouraged that modest growth will likely keep inflation in check and the Federal Reserve on hold as far as rates are concerned. S&P Capital IQ estimated that second-quarter S&P 500 earnings growth should to come in at 7.3% year-over-year, with earnings per share of $28.89. That's up from its prior day estimate of 7% growth with EPS of $28.80. Thursday is another busy day for corporate earnings after online social network Facebook reported Wednesday evening sharply higher second-quarter earnings on increasing revenue from mobile advertising. Amazon.com , the online retailing giant, is expected by analysts on Thursday to report a second-quarter loss of 15 cents a share on revenue of $19.34 billion. Ford reported second-quarter earnings on Thursday of 32 cents share, up from 30 cents a year earlier. AT&T said second-quarter earnings fell as customers moved to cheaper cellphone plans. Construction and mining equipment maker Caterpillar is forecast to post second-quarter earnings of $1.52 a share on revenue of $14.46 billion. Chipmaker Qualcomm said fiscal third-quarter net income rose 42%, topping expectations, but guidance for the fourth quarter came in below forecasts. The roll call of economic reports Thursday include initial jobless claims for the week of July 19 at 8:30 a.m. EDT, the Markit "flash" PMI manufacturing index for July at 9:45 a.m., and new home sales for June at 10 a.m. International markets were generally higher. European stock indices reversed early losses to move higher on Thursday after positive manufacturing data pointed to a eurozone recovery. The Shanghai Composite increased 1.28% and the Hong Kong Hang Seng rose 0.71% after the HSBC "flash" manufacturing Purchasing Managers' Index advanced to 52 in July from 50.7 in June. -- By Andrea Tse in New York
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