US futures higher as Street digests earnings, data

Brendan McDermid | Reuters. U.S. stock index futures pointed to a lower open on Thursday after the Nasdaq notched a record close and a five-day winning streak.·CNBC
CNBC.com staff
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U.S. stock index futures indicated a higher open on Thursday, following a rise in global stocks on hopes that recent softness in U.S. economic data will push out a rate hike.

Futures trimmed gains, with the Dow futures up about 50 points, amid the release of consumer inflation data and earnings from big banking names such as Citigroup and Goldman Sachs.

In Europe, the pan-European Stoxx 600 index (^STOXX) traded more than 1 percent higher on Thursday. In Asia, Japan's Nikkei (Nihon Kenzai Shinbun: .N225) finished 1.15 percent higher, while in China the Shanghai Composite (Shanghai Stock Exchange: .SSEC) closed 2.32 percent higher.

In economic news, September CPI declined 0.2 percent , matching expectations. Ex-food and energy, the price index rose 0.2 percent for the month, following a 0.1 percent rise in August.

Weekly jobless claims came in at 255,000. The October Empire State Index posted a read of negative 11.36. The index showed negative 14.67 in September.

The Philly Fed index is set to be released at 10:00 a.m.

Treasury yields edged higher, with the 10-year near 2.02 percent and the 2-year around 0.58 percent.

The U.S. dollar added to gains against major world currencies, with the euro falling below $1.14 and the yen at 118.7 yen against the dollar.

Earlier, Goldman Sachs reported earnings that missed on the top and bottom line as a decline in bond trading hurt profits.

Citigroup earnings beat but revenue missed expectations and declined from the same period last year.

Earnings season has started off with some weak corporate commentaries, despite the fact that most companies so far are beating on the bottom line.

Wal-Mart's disappointing forecast Wednesday of a potential double-digit earnings decline in the coming fiscal year kicked a market already reacting to weaker-than-expected September retail sales, soft producer prices and flat business inventories.

With earnings season well under way, Citigroup (NYSE:C), Goldman Sachs (GS), Philip Morris (PM), Taiwan Semiconductor, UnitedHealth (UNH), US Bancorp, Blackstone (BX), Charles Schwab (SCHW) and Winnebago (WGO) were all expected before the bell. Schlumberger (SLB), Mattel (MAT), Western Alliance (WAL), People's United Financial (PBCT) and WD-40 (WDFC) are all due after the bell.

Read More Early movers: GS, BUD, UNH, MO, SBUX, WMT, NFLX, UNH & more

In oil markets, Brent crude traded below $49 a barrel, down 0.3 percent, while U.S. crude held near $46.12 a barrel, off more than 1 percent.

--CNBC's Patti Domm contributed to this report



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