1. Greek parliament passes austerity vote
Greece's parliament approved harsh austerity measures demanded by the country’s creditors two hours after the imposed deadline early Thursday morning local time, clearing the way for negotiations on a third bailout package to begin.
The reform plan was approved with 229 votes in the 300-seat chamber, despite dozens of hardliners in the ruling Syriza party opposing the package, raising doubts over the future of Prime Minister Alexis Tsipras' government.
The eurogroup of euro zone finance ministers were to hold talks on the latest developments in Greece later Thursday.
Meanwhile, officials in Brussels agreed in principle to provide a €7 billion bridge loan to keep Greece afloat until the new bailout can be finalized.
2. European Central Bank meets in Frankfurt
The ECB's latest interest rate decision is due at 12:45PM London time, or 7:45AM New York time. No policy change is expected, with most of the focus likely to be on President Mario Draghi's press conference at 1:30PM in London, or 8:30AM Eastern Time.
Most of the focus will be on whether the central bank will increase Emergency Liquidity Assistance to Greek banks, the first step toward allowing them to reopen after being closed for nearly three weeks.
3. Fed Chair Janet Yellen to address the Senate Banking Committee
Federal Reserve Chair Janet Yellen is scheduled to address the Senate Banking Committee on Thursday morning as she wraps up her two-day semi-annual Congressional testimony.
In prepared remarks released before her testimony to the House Financial Services committee on Wednesday, Yellen reiterated that the central bank was on track to raise interest rates by the end of the year if the economy continues to evolve as expected.
4. Goldman Sachs (NYSE:GS), Citigroup (NYSE:C) report Q2 earnings
Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C) will report second-quarter results ahead of the opening bell on Thursday.
Goldman Sachs is forecast to post second-quarter earnings of $3.84 a share, down from $4.10 a share a year earlier, while Citigroup is projected to report second-quarter earnings of $1.34 a share, up from $1.24 a share a year earlier.
eBay (NASDAQ:EBAY), Philip Morris (NYSE:PM), Blackstone (NYSE:BX) and Charles Schwab (NYSE:SCHW) are also due to report quarterly earnings ahead of the open on Thursday.
Google (NASDAQ:GOOGL), Schlumberger (NYSE:SLB), Mattel (NASDAQ:MAT), and Advanced Micro Devices (NASDAQ:AMD) are expected to report after the closing bell.
5. U.S. data in focus
The U.S. is to release weekly data on initial jobless claims at 8:30AM ET, followed by the Philadelphia Fed report on manufacturing activity and the NAHB homebuilders' survey, both due out at 10:00AM.
Weekly jobless claims are forecast to have dropped to 285,000 from 297,000, while the Philadelphia Fed’s manufacturing index is expected to fall to 12.0 in July from 15.2 in June.