Wall Street Set to Open Slightly Higher as Investors Parse Employment, Inflation Data

US stocks look set to open slightly higher in Thursday's trading session as investors parse employment and inflation data released earlier in the morning.

Dow Jones Industrial Average futures were up 0.11%, S&P 500 futures were rising 0.09%, and Nasdaq futures were moving 0.10% higher.

Initial jobless claims, which measure how many people filed for unemployment insurance for the first time during the past week, rose to 230,000 from 228,000, which was higher than the 227,000 expected by analysts, according to Bloomberg.

The Producer Price Index, which measures the change in input prices of raw, semi-finished or finished goods and services, rose 0.2% in August, ahead of the 0.1% increase expected by analysts, according to Bloomberg.

Oil prices were moving sharply higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude climbing 1.03% and 1.20% respectively.

In other world markets, Japan's Nikkei soared 3.41%, Hong Kong's Hang Seng was up 0.77%, and China's Shanghai Composite was off 0.17%. In Europe's early afternoon session, the UK's FTSE 100 was up 0.71%, while Germany's DAX and France's CAC rose 0.87% and 0.64%, respectively.

In equities, shares of Tenon Medical (TNON) jumped 143% in Thursday's premarket session after it said Wednesday that it plans to proceed with a public share offering to regain compliance with Nasdaq's minimum float requirement. Monopar Therapeutics' (MNPR) stock shot up 106% after it reported positive early data from a phase 1 clinical trial of MNPR-101-Zr to treat multiple types of cancer. And Signet Jewelers (SIG) shares rose 13% after it reported better-than-expected fiscal Q2 earnings.

On the losing side, shares of Fulcrum Therapeutics (FULC) fell 63% after it said Thursday that its phase 3 trial evaluating losmapimod in patients with acioscapulohumeral muscular dystrophy did not meet its primary endpoint. . Shares of CN Energy Group (CNEY) shares tumbled 33%, after it said Wednesday that it has been notified that it is not in compliance with Nasdaq's listing rules. And Caleres (CAL) fell 15% after it reported lower fiscal Q2 earnings and net sales and cut its fiscal 2024 adjusted EPS and sales outlook.