Markets are mixed before the opening bell on a busy Thursday that will bring the latest government report on retail sales, weekly applications for unemployment benefits, and a slew of corporate earnings reports.

BMO Capital Markets forecasts the S&P 500 will reach 6,700, reflecting a gain of 13.2%. Chief investment strategist Brian Belski said he and his team "remain resolutely bullish," but expect "performance and fundamentals will more closely match the historical norms -- namely, in the high-single digit/low-double-digit percentage range in 2025."

U.S. stocks are ticking higher following an encouraging update on inflation. The S&P 500 rose 0.4% in early trading Tuesday. The Dow Jones Industrial Average was up 163 points, and the Nasdaq composite was 0.