U.S. futures were rising premarket Thursday, reversing the direction markets took in Wednesday trading when all three indices closed the day down at least 1%. Dow Jones Industrial Average futures were up 0.5% premarket, while Nasdaq and S&P 500 futures climbed 0.6% each.
World markets were mixed Thursday with Europe rising and Asia posting mixed results. The Nikkei was the lone major Asian index to end the day in the green, rising 0.4%, while the Shanghai Composite fell 0.04% and the Hang Seng dropped 0.7%. In Europe, the Dax was rising 0.7%, the CAC 40 was climbing 0.9% and the FTSE 100 was gaining 0.4% with about three hours left in trading.
Brazil's Senate voted to suspend President Dilma Rousseff Thursday morning for 180 days as they decided to launch an investigation into corruption charges against her based on allegations that she doctored fiscal reports to hide the size of the government's budget deficit. The decision paves the way for Rousseff to face an impeachment trial in the Senate.
Crude prices were also climbing premarket Thursday, with industry benchmark Brent crude contracts for July delivery rising $0.25 to $47.85 per barrel while West Texas crude contracts for June delivery gained $0.37 to $46.60 per barrel.
Earnings season continued Thursday with Kohl's (KSS) falling more than 6% premarket after the retailer reported a quarterly profit of $0.31 per share that was $0.06 less than analysts were expecting for the period.
Fast food restaurant Jack in the Box (JACK) was up double digits following its latest earnings release. The company reported a profit of $0.85 per share on revenue of $361.15 million vs. analysts' expectations of earnings of $0.70 per share on revenue of $358.12 million.
Ralph Lauren (RL) shares were up 3% premarket after reporting a fourth-quarter profit of $41 million, or $0.88 per share, on revenue of $1.87 billion. Analysts, on average, were expecting the company to report earnings of $0.83 per share on revenue of $1.86 billion.
Nordstrom (JWN), Shake Shack (SHAK), NVIDIA (NVDA) and Petrobras (PBR.A, PBR.B) are all scheduled to report earnings after the close Thursday.
Finally, Chipotle (CMG) announced that it was adding $100 million to its previously-announced $1.9 billion stock buyback program.