Here is what you need to know.

US stocks are at all-time highs. On Wednesday, the major US averages put in their 12th record high since Donald Trump was elected president on November 8. Notable was the performance of the Dow Transports, which closed at an all-time high for the first time in two years. The S&P 500 is set to open little changed near 2,239.

The ECB meets on Thursday. The European Central Bank is widely expected to leave its key interest rate unchanged at 0%, but could extend its quantitative easing program that is scheduled to end in March 2017. The euro is up 0.3% at 1.0787 against the dollar ahead of the decision, which will be released at 7:45 a.m. ET.

China’s economy is bouncing back. Trade data showed exports ticked up 0.1% in November as imports rose by 6.7%, causing China’s trade surplus to narrow to $44.61 billion from $49.06 billion in October. The reading marked the first time since October 2014 that both exports and imports gained in the same month.

Japan’s Final Q3 GDP was revised sharply lower. Data released by the Japanese government showed the economy grew at a 1.3% clip in the third quarter, well below the initial reading of 2.4% growth. The Japanese yen is stronger by 0.4% at 113.35 per dollar.

Major banks allegedly rigged the silver market. "Smoking gun" evidence allegedly shows major banks including HSBC, UBS, and Barclays worked together to manipulate the spot silver market, Bloomberg reports.

Banks are moving to Paris.Benoit de Juvigny, secretary general of the AMF, France's markets regulator, told the BBC that some international banks are in the process of opening subsidiaries in Paris as a result of Brexit.

Lululemon beats and raises its guidance. The yoga clothing maker earned an adjusted $0.47 per share on revenue of $544.4 million, both ahead of estimates. Lululemon expects to earn $0.96 to $1.01 per share during the fourth quarter on revenue of $765 million to $785 million. Shares of Lululemon were up as much as 12% in after-hours trade.

Michael Jordan won a landmark case against a Chinese copycat. China's highest court ruled that Qiaodan Sports, a local sportswear company, can't use the Chinese characters used to spell Jordan's name, Reuters reports.

Earnings reporting is light. Sears reports ahead of the opening bell while Broadcom and Restoration Hardware release their quarterly results after markets close.

US economic data trickles out. Initial jobless claims will be released at 8:30 a.m. ET. The US 10-year yield is up 3 basis points at 2.37%.