Stock index futures were little changed on Thursday ahead of figures for weekly jobless claims and other indicators that investors hoped would show the recovery was gaining traction.
A report on weekly jobless claims is due at 8.30 a.m. EDT, while a June gauge of manufacturing in the U.S. Mid-Atlantic region, the Philadelphia Fed business index, is scheduled for release at 10:00 a.m. EDT, along with the May index of leading indicators.
Besides focusing on the data, investors will also look for direction from the testimony of Treasury Secretary Timothy Geithner before two Congressional panels on the Obama administration's proposed financial regulatory reform.
Geithner's testimony before the Senate Banking Committee is due to start at 9:30 a.m. His testimony before the House Financial Services Committee is set for 1 p.m. EDT.
Investors are weighing what would be the implications for banks and other financial institutions from the proposed reforms that U.S. President Barack Obama unveiled on Wednesday
The issue on the market is how far we come down, said Andre Bakhos president of Princeton Financial Group in Princeton, New Jersey, referring to mounting signs that the rally that started in March has begun to stall. There's no fresh positive news. We are not going to overlook hiccups in the economic data.
S&P 500 futures fell 0.40 points and were about even with 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 were unchanged, while Nasdaq 100 futures dipped 6.50 points.
(Editing by Padraic Cassidy)