These are the stories you need to know before the bell:
1. European stocks drifted lower while the single currency held to near two-and-a-half year highs against the U.S. dollar Thursday as investors pressed pause on a global equity rally that lifted the Dow Jones Industrial Average to its first 22,000 point close.
2. Investors await the Bank of England's rate decision and fresh growth and inflation forecasts.
3. BMW AG (BMWYY) posted stronger-than-expected second quarter earnings Thursday and held to its full year guidance as surging Asia sales offset slowing luxury car demand in the United States.
4. Adidas AG's (ADDYY) resurgence over the past year is thrashing its American competitors Nike Inc. (NKE) and Under Armour (UA) , with both falling in Thursday premarket trading. Adidas dominance has sent its shares up more than 27% since the start of the year, compared with a more than 17% rise for Nike and a 36.1% loss for Under Armour.
5. Wall Street futures are pointing to a modestly weaker start to trading Thursday, with the Dow priced to fall around 17.5 points, or 0.08%, at the opening bell and the broader S&P 500 set to dip 0.18%.
Watch More with TheStreet: