Wall Street to rise after two days of losses, data helps

U.S. stocks were set to climb on Thursday, rebounding after two days of sharp losses on strong labor market data, with a busy day for corporate earnings dictating the moves of some major stocks. Alibaba Group shares (BABA.N) fell 8.3 percent in premarket trading after it posted revenue that missed Wall Street expectations. Futures had earlier weakened, weighed by earnings, but recovered steeply after weekly applications for unemployment insurance fell to their lowest in almost 15 years, adding to bullish signals on the labor market. "In the early going, you're going to get some of that back," said Kevin Caron, market strategist at Stifel, Nicolaus & Co in Florham Park, New Jersey, of the expected higher open on Wall Street.

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