Stocks are indicated modestly higher, with gains in overseas markets and modest strength in commodities likely to help support the major averages Thursday morning. Less than an hour before the opening bell, stock index futures indicate that both the Dow Jones Industrial Average and the NASDAQ will open with modest gains.

Benchmarks moved broadly higher across Asia and edged up in Europe prior to the start of trading in New York. Japan’s Nikkei and Hong Kong’s Hang Seng both added 1.6 percent. A .5 percent gain in UK’s FTSE is pacing the advance in the euro-zone.

Higher commodity prices helped. Crude oil added 50 cents to $74.17 a barrel and gold rose $7 to $1091.50 an ounce.

In the US, however, stock index futures moved off their best levels after the Labor Department reported that weekly jobless claims fell by a less-than-expected 8,000 to 470,000 in the period ended January 23. Economists were expecting a larger drop — to 470,000.

Separate data showed durable goods increasing just .3 percent in December, which was much less than the 2 percent jump economists had predicted.

Speaking of unpopular economists, Fed Chairman Ben Bernanke moves into the spotlight later today. CNBC reports the confirmation hearing for Bernanke’s appointment to a second term will begin at 10:30 eastern time.

Elsewhere, bonds are showing modest losses despite the poor economic data. The benchmark ten-year Treasury is down 6/32nd and yields 3.67 percent.

The dollar edged up .13 to 90.07 against the yen. The euro is dipping below 1.40 against the buck.

Among the stocks to watch, Ford Motor (F) is up 2.7 percent after reporting a 25 cent quarterly profit on $35.4 bln in revenues. Analysts were looking for 26 cents on $32.6 bln. Dow components AT&T (T) and 3M (MMM) are also up on earnings news. Meanwhile, Qualcomm (QCOM), Potash (POT), and Norfolk Southern (NSC) are seeing post-earnings weakness. Microsoft (MSFT) and Amazon.com (AMZN) are likely to see action ahead of earnings, due out after the closing bell.