US stock futures showed modest increases in Thursday's premarket session as investors looked forward to a series of economic indicators scheduled for release this morning. Key reports include initial jobless claims, the producer price index, and crude oil inventories. Federal Reserve Chair Jerome Powell is also set to speak later in the afternoon at the Dallas Regional Chamber.
The Dow Jones Industrial Average futures rose by 0.23%, while S&P 500 futures were up 0.12% and Nasdaq futures saw a slight increase of 0.1%. Oil prices experienced upward movement, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising by 0.61% and 0.63%, respectively.
Initial jobless claims, which are a measure of the number of individuals filing for unemployment insurance for the first time in the last week, are projected to increase from 221,000 to approximately 224,000. The producer price index, which reflects changes in input prices of various goods and services, is anticipated to rise to 0.2% in October from a previous 0.0% in September.
Furthermore, the Energy Information Administration's reported crude oil inventories, indicating the weekly changes in commercial crude oil held by U.S. companies, are expected to show an increase of 400,000 barrels, a decrease compared to last week's rise of about 2.1 million barrels. In the equities market, shares of Gaxos.ai ($GXAI) surged 27% after its board approved the acquisition of up to $1 million in Bitcoin.
BTC Digital's ($BTCT) shares skyrocketed 40% following a 68% jump in the previous session. Meanwhile, Bowman Consulting Group ($BWMN) saw a modest increase of 4% after a 2% loss on Wednesday. Conversely, shares of Calidi Biotherapeutics ($CLDI) dropped 29% after a significant 60% increase on Wednesday.
Digital Brands Group's ($DBGI) stock fell by 26%, reducing the impact of Wednesday's impressive 41% gain..