U.S. stock futures rose Thursday after getting a boost from better-than-expected retail sales figures.

U.S. retailers started posting stronger-than-expected same-store sales for May, confounding analysts who projected another months of weak results amid surging prices for gasoline prices and tumbling consumer confidence.

Retail giant Wal-Mart Stores reported a 3.9% jump, excluding fuel, in U.S. same-store sales.

Here at home, the total value of building permits was up strongly in April as construction intentions rose in all provinces and in both the residential and non-residential sectors.

Statistics Canada said contractors took out $6.4 billion worth of permits, up 14.5% from March, the highest level since October 2007.

The Canadian dollar opened at US98.12¢ down 0.08 of a cent from Wednesday’s close.

South of the border, the U.S. Labour Department reported that applications for unemployment benefits totalled 357,000 last week, 18,000 fewer than the previous week.

However, the four-week average for people receiving benefits edged up to 3.086 million, the highest level since March 6, 2004.

The U.S. unemployment report for May will be released on Friday.

In M&A news, Verizon Wireless is in talks over a possible bid for closely held Alltel. Meanwhile, France Telecom said it has begun negotiations aimed at taking over TeliaSonera. TeliaSonera’s board rejected the proposal.

In other business news, U.S. airline Continental said it plans to eliminate 3,000 jobs and reduce fourth-quarter domestic departures by 16%. The announcement follows the reductions announced Wednesday by United and last week by American Airlines.

Oil prices edged up slightly in electronic trading but remained below recent highs. The July-dated light crude contract added 56¢ at US$122.86 a barrel.

Overseas, the Bank of England kept its benchmark interest rate unchanged at 5%.

London’s FTSE 100 fell 11.3 points to 5,958.80, while the Paris-based CAC 40 index moved up 14.34 to 4,929.41 and Germany’s DAX gained 16.69 to 6,982.12.

In Asia, the Nikkei 225 index fell 0.7% to 14,341.12, while Hong Kong’s blue-chip Hang Sang Index advanced 0.6% to 24,255.29.

Resource stocks pulled the Toronto Stock Exchange to a lower close Wednesday as prices for gold and oil retreated.

The S&P/TSX composite index slid 38.15 points, or 0.25%, to 14,690.46, but only three of the 10 TSX main groups closed lower.

The junior S&P/TSX Venture composite index added 2.47 points, or 0.09%, at 2,642.57.

In New York, technology shares ended higher on as positive broker comments on chip makers and data showing unexpected strength in the services sector fueled bets that business spending will hold up.

The tech-heavy Nasdaq composite index jumped 22.66 points, or 0.91%, to 2,503.14.

However, the Dow Jones industrial average dropped 12.37 points, or 0.1%, to 12,390.48, and S&P 500 dipped 0.45 of a point, to 1,377.20.