US stock futures were moving slightly higher in Thursday's premarket session as investors await a raft of economic data set to be released this morning, including initial jobless claims, the producer price index, and crude oil inventories.
Meanwhile, Federal Reserve Chair Jerome Powell will speak later in the afternoon at the Dallas Regional Chamber.
The Dow Jones Industrial Average futures were up 0.23%, S&P 500 futures were rising 0.12%, and Nasdaq futures were nudging 0.1% higher.
Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.61% and 0.63% respectively.
Initial jobless claims, which measure the number of people who filed for unemployment insurance for the first time during the past week, are expected to rise to 224,00 from 221,000 the previous week, according to Bloomberg.
The producer price index, which gauges the change in input prices of raw, semi-finished, or finished goods and services, is expected to rise to 0.2% in October from 0.0% in September, according to Bloomberg.
And the Energy Information Administration's crude oil Inventories, which tracks the weekly change in the number of barrels of commercial crude oil held by US firms, is expected to rise by 400,000 barrels compared with a rise of about 2.1 million barrels the previous week, according to Bloomberg.
In equities, shares of Gaxos.ai (GXAI) advanced 27% after the company's board of directors approved Thursday the purchase of up to $1 million in Bitcoin. BTC Digital's (BTCT) shares climbed 40% after jumping 68% the previous session. Shares of Bowman Consulting Group (BWMN) climbed 4% following a 2% loss on Wednesday.
On the losing side, shares of Calidi Biotherapeutics (CLDI) tumbled 29% after surging 60% on Wednesday. Digital Brands Group's (DBGI) stock shed 26%, eating into Wednesday's 41% gain.
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