By Chuck Mikolajczak
NEW YORK (Reuters) - U.S. stock index futures advanced on Thursday, ahead of a rate decision by the European Central Bank, as well as U.S. labor market data and the latest round of corporate earnings.
* The ECB, which announces its policy decision at 7:45 a.m. EST, is largely expected to keep rates unchanged at its record low benchmark of 0.25 percent.
* U.S. weekly initial jobless claims are due at 8:30 a.m.. Analysts expect 335,000 new filings, down from the prior week's 348,000.
* Twitter Inc
* Green Mountain Coffee Roasters Inc
* S&P 500 e-mini futures rose 7.5 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 63 points and Nasdaq 100 futures added 15.75 points.
* As the U.S. Federal Reserve continues its efforts to wind down its stimulus measures, investors have turned their focus to fundamentals such as corporate earnings and economic data.
* However, many participants have wondered if recent soft data truly reflects the economy or is the result of a harsh winter, and are looking to Friday's payrolls report for a clearer indication of the economy's health.
* Investors will eye monthly sales results from retailers for signs of strength in consumer spending. Costco Wholesale Corp's
* Dunkin' Brands Group Inc
* Aetna Inc
* European equities climbed in cautious trading ahead of rate decisions by central banks, lifted by reassuring earnings from major companies such as Alcatel-Lucent and AkzoNobel. <.EU>
* Asian shares took a tentative step forward from five-month lows, with investors hoping the ECB and upcoming U.S. jobs data will calm nerves strained by a recent rout in emerging markets.
(Editing by Bernadette Baum)