Investing.com – Wall Street futures pointed to a flat open on Thursday with the schedule full of second quarter earnings reports and macro data, while markets were keeping an eye on the European Central Bank’s monetary policy decision followed by a press conference from its president Mario Draghi.
The blue-chip Dow futures slipped 15 points, or 0.08%, by 10:53AM GMT, or 6:53AM ET, the S&P 500 futures inched down 1 point, or 0.05%, while the tech-heavy Nasdaq 100 futures edged forward 1 point, or 0.01%.
Investors were showing mixed reactions to earnings reports out after Wednesday’s close.
Among blue-chip earnings, Intel (NASDAQ:INTC) dropped more than 3% in the after hours market on the slower revenue growth at its data center business, while American Express (NYSE:AXP) fell 1% after the credit card company reported mixed earnings.
In other earnings news, Kinder Morgan (NYSE:KMI) fell more than 3% after reporting earnings slightly lower than expected earnings and keeping its dividend policy unchanged.
On the upside, eBay Inc (NASDAQ:EBAY) jumped more than 6% in the pre-market thanks to a sharp rise in sales.
The reporting season continued was set to continue in full swing on Thursday.
General Motors (NYSE:GM), Blackstone (NYSE:BX), The Travelers Companies Inc (NYSE:TRV) and Bank of New York Mellon (NYSE:BK) are among the dozens of companies reporting second-quarter results before the opening bell, while Starbucks (NASDAQ:SBUX), AT&T (NYSE:T), Chipotle Mexican Grill Inc (NYSE:CMG), Visa Inc (NYSE:V) and PayPal Holdings Inc (NASDAQ:PYPL) were some of the names set to release numbers after the close.
U.S. equites have been boosted in recent sessions amid indications the U.S. corporate earnings season may be less dour than feared. According to Thomson Reuters, 67% of the 70 S&P 500 companies reporting so far beat earnings estimates.
Furthermore, second-quarter earnings for S&P 500 companies are now expected to fall by 3.8%, less than the 4.7% decline estimated before the reporting season began, according to Thomson Reuters.
Outside of earnings, Japanese mining equipment maker Komatsu Ltd has agreed to buy its smaller U.S. rival Joy Global Inc (NYSE:JOY) for about $3.7 billion including debt, its biggest-ever acquisition, to boost its clout in the mining industry.
On the data front Thursday, weekly jobless claims data and the Philadelphia Fed survey for July are both expected at 12:30GMT, or 8:30AM ET. The FHFA home price index for May is due at 13:00GMT, or 9:00AM ET, and the Conference Board’s June index of leading economic indicators and existing home sales for the same month are both scheduled for 14:00GMT, or 10:00AM ET.
Meanwhile, oil prices added to overnight gains on Thursday, after data in the prior session showed that oil supplies in the U.S. fell for the ninth week in a row last week.
U.S. crude futures gained 0.11% to $45.80 by 10:58AM GMT, or 6:58AM ET, while Brent oil traded up 0.04% to $47.19.
Elsewhere, European stock markets retreated from four-week highs, as investors looked ahead to the latest monetary policy decision from the European Central Bank (ECB).
The ECB was expected to leave rates on hold in its policy decision out at at 11:45GMT, or 7:45AM ET, on Thursday, with the focus thus shifting to its president Mario Draghi’s press conference that will begin 45 minutes later as markets look to see if he will give hints to possible action at the following meeting in September.
Earlier, Asian stocks climbed to nine-month highs, with Japanese shares leading gains after local media reports suggested the government was preparing a sizable stimulus package.