On Wednesday, OPEC agreed to its first oil production cut in eight years, triggering a rally in oil prices. In commodity markets on Thursday morning, Brent crude traded at around $51.96 a barrel, while U.S. crude was around $49.43 a barrel.
On the data front Thursday, initial claims are due at 8:30 a.m. ET and manufacturing PMI at 9:45 a.m. The ISM index and construction spending are set to come out at 10:00 a.m. ET, while vehicle sales are also due to be released on Thursday.
On the earnings front, Dollar General and Kroger are set to report before the bell. Ulta Salon, Workday, Ambarella and Five Below are among companies due to report after the bell.
In Europe, the pan-European Stoxx-600 index was around 0.58 percent lower on Thursday morning. In Asia, the Shanghai composite in China closed 0.74 percent higher on Thursday, while the Nikkei in Japan closed 1.12 percent higher.