US stock futures are tracking higher in Thursday's premarket session as investors look ahead to a slew of key economic data coming out later in the day, including gross domestic product, inflation, jobless claims, and crude oil inventories.
Dow Jones Industrial Average futures were up 0.3%, S&P 500 futures were rising 0.5%, and Nasdaq futures were tracking 0.9% higher.
Oil prices were sharply lower, with front-month global benchmarks North Sea Brent crude falling 2% to $64.02 per barrel and US West Texas Intermediate crude falling 2% to $59.43 per barrel.
The US Bureau of Economic Analysis will release Q3 gross domestic product figures at 8:30 am. Analysts are expecting annualized GDP growth of 4.3%, the same as Q2, according to Bloomberg.
The Department of Labor is set to release weekly initial jobless claims, also at 8:30 am ET. Analysts are expecting claims to rise to 209,000 from 198,000 a week ago, according to Bloomberg.
Core personal consumption expenditures for November, which exclude food and energy prices, will be announced at 10:00 am ET. Analysts forecast annual core inflation of 2.8%, according to Bloomberg.
And at 12 pm ET, the US Energy Information Administration will release crude oil inventories. Analysts polled by Bloomberg are calling for a decline of 1 million barrels, compared with last week's gain of about 3.4 million barrels.
In equities, shares of technology company iOThree (IOTR) soared 172%, adding to a 12% gain the previous session. 60 Degrees Pharmaceuticals' (SXTP) shares jumped 140%, following a slight loss on Wednesday. And shares of biopharmaceutical company Greenwich LifeSciences (GLSI) surged 36% after it said Thursday that the US Food and Drug Administration approved the use of its first commercially manufactured lot of GP2 vials in the Flamingo-01 Phase 3 clinical trial to treat breast cancer relapses.
On the losing side, shares of payroll outsourcing company Galaxy Payroll Group (GLXG) tumbled 22%, adding to Wednesday's 12% loss. Digital health company Pulsenmore's (PLSM) stock was down 20%, a day after it began trading on the Nasdaq Capital Market. And shares of fintech firm Pineapple Financial (PAPL) dropped 22%, after surging 45% Wednesday.