Investors Await Slate of Data as US Futures Nudge Higher in Thursday's Premarket

08:14 AM EDT, 08/22/2024 (MT Newswires) -- US stock futures were moving slightly higher in Thursday's premarket session as investors awaited data on initial jobless claims, manufacturing and services PMIs, and existing home sales, which will be released later in the morning.

The Dow Jones Industrial Average futures were up 0.05%, S&P 500 futures rose 0.18%, and Nasdaq futures were moving 0.32% higher.

Oil prices were trending higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.54% and 0.44%, respectively.

Shares of Staffing 360 Solutions (STAF) soared 165% in Thursday's premarket session, following a 15% loss on Wednesday. GD Culture Group's (GDC) shares jumped 78%, adding to a 128% gain Wednesday after it said it has launched a TikTok account to disseminate artificial intelligence updates, insights, and trends. And shares of Mobix Labs (MOBX) surged 66% after an 8.3% loss the previous session.

On the losing side, shares of Revelation Biosciences (REVB) tumbled 31% after soaring 101% on Wednesday. The company said late Wednesday that it signed a definitive agreement to immediately exercise certain outstanding warrants to purchase up to approximately 2.5 million shares of common stock at a reduced exercise price of $1.50 per share. Cyclo Therapeutics' (CYTH) stock fell 17% after it reported Thursday that it has agreed to merge with Rafael Holdings (RFL). And shares of Virax Biolabs Group (VRAX) fell 18% after it said late Wednesday that it signed a deal to sell and issue approximately 1.1 million common shares at $4.50 per share through a registered direct offering.