Wall Street equity futures fell on Thursday, indicating the market may resume its downturn after snapping a seven-day losing streak ahead of a report on the labor market that will give clues on economic health.

* Data on first-time jobless claims data for the week ended July 30 is due at 8:30 a.m. EDT. Economists forecast 405,000 new filings, compared with 398,000 in prior week.

* The S&P 500 index rose on Wednesday after seven straight losing sessions, but worries about the economy kept investors jittery and trading volatile.

* S&P 500 futures fell 10.10 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 lost 82 points, and Nasdaq 100 futures advanced 17.75 points.

* Retailers will be in focus as chain stores report July sales. The chains, led by warehouse clubs and high-end stores, are expected to report higher sales due to deep discounts and the warmest July weather in decades.

* In one early report, warehouse club operator Costco Wholesale Corp posted a higher-than-expected 10 percent rise in same-store sales, helped by higher gasoline prices and strengthening foreign currencies.

* General Motors Co is due to post a quarterly profit later Thursday, demonstrating the largest U.S. automaker can thrive in a market stalled by consumer uncertainty about the economy.

* Kraft Foods Inc rose 3.5 percent to $35.50 in premarket trading after it said it plans to split itself into two listed companies: global snacks and North American groceries. It also posted quarterly results.

* Cigna Corp posted higher-than-expected second-quarter profit early Thursday on strength in its main U.S. healthcare plans and its international business. The insurer raised its full-year forecast.

* American International Group Inc is due to report results later Thursday.

* European shares hit a new 11-month low, with miners falling as the price of copper and other metals dropped on worries about global demand following recent weak economic data.

* The European Central Bank is expected to keep rates on hold this month after raising them to 1.5 percent in July. The Bank of England is also likely to keep rates unchanged.

* Japan's government sold one trillion yen ($12.5 billion) after days of official warnings that the yen had risen so much it threatened to derail Japan's recovery.

* The move buoyed shares of big Japanese exporters, driving the Nikkei average <.N225> up 0.2 percent on a day when the rest of the region fell around 1.4 percent.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)