DJIA futures are building momentum amid a dovish speech from ECB President Mario Draghi
After swimming in the red earlier,
Dow Jones Industrial Average (DJIA) futures are now signaling a triple-digit pop, following the European Central Bank's (ECB) decision to keep interest rates unchanged and amid dovish remarks from ECB President Mario Draghi. On the home front, traders are digesting a surprise jump in weekly jobless claims (to their highest level in six months) and earnings from blue chips Travelers Companies Inc (NYSE:TRV) and Verizon Communications Inc. (NYSE:VZ). However,
crude remains a concern, with futures again flirting with fresh 12-year lows.
Continue reading for more on today's market, including:

Futures on the Dow Jones Industrial Average (DJIA) are more than 123 points above fair value.
5 Things You Need to Know Today
- While Asian stocks got pummeled, European markets are getting a big boost from the ECB.
- The Chicago Board Options Exchange (CBOE) saw nearly 1.2 million call contracts traded on Wednesday, compared to 682,213 put contracts. The resultant single-session equity put/call ratio slipped to 0.59, while the 21-day moving average edged down to 0.76.
- Verizon Communications Inc. (NYSE:VZ) is set for a higher open, after the telecommunications concern reported fourth-quarter adjusted earnings of 89 cents per share on revenue of $34.25 billion, with smartphone and tablet growth helping to push the numbers above consensus estimates. At last check, the shares were pointed 1.1% higher -- less than what the options market was predicting.
- To the delight of bullish option traders, Southwest Airlines Co (NYSE:LUV) has added 1.6% pre-market after the company reported a record fourth-quarter profit, boosted by sagging fuel prices. On a per-share basis, LUV earned 90 cents on $4.98 billion in revenue, both in line with estimates.
- On the currency front, focus will shift from the Chinese yuan to the Russian ruble today, with the latter facing its biggest two-day slide in a year. Specifically, the ruble dropped nearly 5.3% against the dollar, after Russia's central bank said the currency had not yet met up with the "fundamental levels" needed to intervene.

Earnings and Economic Data
The Philadelphia Fed's manufacturing survey will be released today. The Street will also get a peak at the holiday-delayed crude inventories update. The earnings calendar is chock full, with reports from American Express (AXP), Travelers (TRV), Starbucks (SBUX), Alaska Air Group (ALK), Bank of New York Mellon (BK), E*TRADE Financial (ETFC), Fifth Third (FITB), Huntington Bancshares (HBAN), Intuitive Surgical (ISRG), and Schlumberger (SLB) all due. Additionally, Avon Products (AVP) will host its annual investor day. To see what else is coming up on this week's agenda, click here.