US Stock Futures Inch Up; All Eyes on Jobless Claims Data

US stock futures inched higher on Thursday, with data on weekly jobless claims scheduled to be released later in the day. Futures on the Dow Jones Industrial Average gained 12 points to 10,059.00, those on the Nasdaq 100 added 2.75 points to 1,792.50. Meanwhile, S&P 500 futures gained 2.10 points to 1,056.70. There has been concern surrounding a double-dip recession in the US. These worries have been fueled by the disappointing economic reports released over the last few days. Investors are now looking out for the weekly jobless claims data, to be released at 8:30 am EDT. Economists polled by Reuters have estimated a decline in the initial claims to 490,000. Jobless claims hit a nine-month high, at 500,000, in the prior week. Specialty retailer J. Crew Group Inc JCG will be reporting quarterly results. There is growing anxiety over the quarterly gross domestic product data, scheduled to be released on Friday, following Wednesday’s disappointing July durable goods report. JPMorgan Chase economist Michael Feroli said, “The July durable goods report was a major disappointment and raises the risk that third quarter GDP growth prints below 1%.” Christian Tegllund Blaabjerg, chief equity strategist at Saxo Bank, added, "Bond markets are clearly starting to price in a recessionary-like scenario.” Most Asian equity markets registered gains on Thursday, with Japan's Nikkei Stock Average index rising 0.69%. European shares advanced as well, with the Stoxx Europe 600 index adding 0.6% in intraday trading. Read more from Benzinga's Markets.