Stock index futures dipped on Thursday after a steep sell-off in the previous session that erased gains for the year.
Concerns over the fragile recovery continued to pressure investors in the aftermath of the Federal Reserve's gloomier outlook earlier this week.
A disappointing revenue forecast from Cisco Systems Inc
John Chambers, Cisco's chief executive, warned of unusual uncertainty in the economy and forecast revenue that missed Wall Street targets on Wednesday.
The Labor Department is scheduled to release its weekly report on first-time claims for unemployment benefits at 8:30 a.m. EDT. <1330 GMT> Analysts forecast initial claims declining to 465,000 from last week's reading of 479,000. The government's July report on import and export prices is also due at 8:30 a.m.
Commodity prices and energy stocks declined as investors turned away from risk-associated assets. U.S. crude oil futures fell 1.4 percent to $76.92 a barrel, dropping for a third straight day.
S&P 500 futures edged down 3.7 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dipped 4 points, and Nasdaq 100 futures fell 5 points.
All three major indexes recorded their worst percentage drop since July 16 on Wednesday as investors were rattled by the Fed's gloomier economic forecast.
According to an NBC News/Wall Street Journal poll released Wednesday, pessimism over the U.S. economy is rising and the grim mood could hurt both parties in the November 2 Congressional elections.
Bookseller Barnes & Noble Inc
American International Group Inc
General Motors Co
(Reporting by Angela Moon; editing by Jeffrey Benkoe)