It looks like markets could start the new year on a high note

Posted on: 6:41 am, January 2, 2014, by , updated on: 06:42am, January 2, 2014

Wall Street Generic

NEW YORK (CNNMoney) — U.S. stock futures were pointing up Thursday morning, with both the Dow Jones industrial average and S&P 500 up by roughly 0.3%.

Investors will be looking to the U.S. government Thursday morning as it is set to release its weekly report on initial jobless claims at 8:30 a.m. ET. At 10:00, the Institute for Supply Management will release its monthly manufacturing index, while the Census Bureau will release data on construction spending.

Shares in Fiat were rising by 13% in Milan, Italy, after the automaker announced Wednesday it was buying full control of Chrysler.

U.S. stocks finished higher Tuesday — the final trading day of 2013 — with the Dow and S&P closing out 2013 with record highs. The Dow was up 26% and the S&P 500 gained more than 29% over 2013. The Nasdaq has surged nearly 40%, to highs not seen since 2000.

Markets were closed around the world Wednesday for the New Year’s holiday.

European markets were all moving lower in morning trading, with Germany’s Dax index declining by 0.6%.

Most Asian markets ended the day with small gains. The Shanghai Composite index moved up by 0.9%.

The Tokyo Stock Exchange was closed for an extended New Year break.

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