Investing.com - Wall Street futures were steady to lower on Thursday, as investors awaited the release of U.S. data and a number of corporate earnings reports, while continuing to digest news of an oil production cut deal.
The blue-chip Dow futures were up 0.01%, the S&P 500 futures dipped 0.07%, while the tech-heavy Nasdaq 100 futures slipped 0.14%.
On Wednesday, the Organization of the Petroleum Exporting Countries reached an agreement on an oil output cut aimed at tackling global oversupply and shoring up prices.
Expectations for higher oil prices added to U.S. inflation expectations, which have already been boosted by prospects for increased fiscal spending under the Trump administration.
The energy sector was expected to be in focus as oil prices shot higher immediately following the OPEC news and remained just below $50 a barril on Thursday. Shares in Chevron (NYSE:CVX) were up 0.22% in pre-market trade.
Financial stocks were also set to march higher, as Bank of America (NYSE:BAC) shares gained 0.38% pre-market and Wells Fargo (NYSE:WFC) was already up 0.13%, after both stocks rallied over 1% and 2% respectively in the previous session.
Elsewhere, the auto sector was likely to be in the spotlight as U.S. carmakers including General Motors Company (NYSE:GM) and Ford Motor Company (NYSE:F) were scheduled to release November U.S. auto sales numbers throughout the day.
Dollar General Corporation (NYSE:DG) and Kroger (NYSE:KR) were among the companies set to report earnings before the bell, while Ulta Salon Cosmetics & Fragrance (NASDAQ:ULTA), Workday Inc (NYSE:WDAY), Ambarella Inc (NASDAQ:AMBA) and Five Below Inc (NASDAQ:FIVE) were scheduled to release results after the bell.
Later Thursday, the U.S. was set to publish the weekly report on jobless claims, as well as data on manufacturing activity.