Investing.com - U.S. stock futures pointed to small gains at the open on Thursday, as market players looked ahead to the European Central Bank's latest policy meeting, amid mounting expectations for fresh stimulus measures.
The ECB’s policy decision is due at 7:45AM ET, followed by a press conference with ECB President Mario Draghi at 8:30AM.
The central bank is widely expected to cut rates further into negative territory and increase the size of its asset purchasing program in a bid to combat persistently low levels of inflation in the euro area.
The blue-chip Dow futures inched up 27 points, or 0.16%, by 11:45GMT, or 6:45AM ET, the S&P 500 futures tacked on 5 points, or 0.25%, while the tech-heavy Nasdaq 100 futures advanced 9 points, or 0.2%.
U.S. stocks resumed their recent hot streak on Wednesday, one day after suffering a rare down session, as the major indices continued to move in lockstep with the recent rally in resurgent crude prices.
Oil prices edged lower on Thursday, pulling back from the prior day’s three-month peak as investors shifted their focus back to a global supply glut.
U.S. crude was down 12 cents, or 0.31%, at $38.17 a barrel, while Brent shed 31 cents, or 0.75%, to $40.76.
On the data front, the U.S. was to release the weekly report on initial jobless claims at 15:30GMT, or 8:30AM ET, with the federal budget released at 2:00PM.
Among active pre-market movers, shares of Box Inc (NYSE:BOX) jumped almost 12% ahead of the bell after the enterprise technology company reported upbeat fourth quarter earnings late on Wednesday.
Payments technology company Square (NYSE:SQ) also saw shares push higher as investors cheered better than expected corporate results.
In other earnings news, Dollar General (NYSE:DG), Party City (NYSE:PRTY), Vail Resorts (NYSE:MTN) and El Pollo Loco (NASDAQ:LOCO) are among companies set to report results on Thursday.
Elsewhere, European stock markets wavered between small gains and losses as investors wait to find out whether the European Central Bank will deliver on its hints of more stimulus for the euro zone economy.
Meanwhile, stocks in Asia closed mixed, as investors digested another round of Chinese economic data and interest rate decisions from central banks in New Zealand and South Korea.