Investing.com – Wall Street futures pointed to a slightly higher open as investors prepared for the start of the Jackson Hole Economic Symposium on Thursday in what will be a three-day gathering of central bankers, finance ministers, policymakers, academics and economists in Wyoming with Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi as the main protagonists on Friday.
The blue-chip Dow futures gained 26 points, or 0.12%, at 6:55AM ET (10:55GMT), the S&P 500 futures edged forward 2 points, or 0.07%, while the tech-heavy Nasdaq 100 futures rose 11 points, or 0.19%.
Though expectations are relatively low, their comments will be closely watched for any fresh policy signals from the world’s two most powerful central banks.
The dollar held onto gains against the other major currencies on Thursday, recovering from the previous session's losses as investors turned their attention to the event.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0.09% to 93.22 by 6:56AM ET (10:56GMT).
With Yellen and Draghi in the spotlight, EUR/USD dropped 0.14% to 1.1790 by 6:57AM ET (10:57GMT).
Traders will also eye U.S. data released Thursday such as weekly jobless claims at 8:30AM ET (12:30GMT) and existing home sales at 10:00AM ET (14:00GMT) to gauge the strength of the world's largest economy and how it will impact the Fed’s view on monetary policy.
In earnings news, Guess? (NYSE:GES) was likely to see shares soar on Thursday after the clothing retailer beat estimates with quarterly earnings and provided a better-than-expected sales guidance.
Shares in Sears Holdings (NASDAQ:SHLD) were slightly higher in pre-market trade Thursday as the department store chain beat consensus with quarterly earnings, but a worse-than-expected 11.5% decline in same-store sales capped gains. Sears closed down 5% in the prior session.
Tiffany & Co (NYSE:TIF) may see upside Thursday after a positive earnings report, while shares in Hormel Foods (NYSE:HRL) could see a sell-off after disappointing numbers.
Abercrombie & Fitch (NYSE:ANF), Dollar Tree (NASDAQ:DLTR), GameStop (NYSE:GME) and Staples (NASDAQ:SPLS) were among other big firms scheduled to report earnings on Thursday.
Also on the company front, eyes were on Seadrill Limited (NYSE:SDRL) with shares tumbling nearly 16% as the offshore drilling contractor heads for Chapter 11 bankruptcy.
Meanwhile, oil prices crept lower, as rising U.S. crude production dampened some of the optimism that had accompanied eight straight weeks of declines in U.S. domestic stockpiles.
The U.S. Energy Information Administration said that domestic crude production edged up by 26,000 barrels a day to 9.528 million last week, the highest level since July 2015.
U.S. crude futures fell 0.60% to $48.20 by 6:57AM ET (10:57GMT), while Brent oil lost 0.53% to $52.29.
Elsewhere, global stock markets inched higher in subdued trade as market players waited for events at Jackson Hole.
In Europe, shares were higher in mid-day trade, with almost all major bourses across the region in positive territory.
Stock markets across Asia ended mixed, with benchmarks in Seoul and Sydney rising, while Tokyo and Shanghai finished lower.