Stock futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 0.4 to 0.6 percent, pointing to a lower start on Wall Street.
Treasury Secretary Timothy Geithner testifies on Capitol Hill for a second day, this time before the House Appropriations financial services subcommittee at 10:00 a.m. EDT.
He told the Senate Banking Committee on Wednesday the administration was making headway in calming financial markets and would have a program to cleanse toxic assets from banks' balance sheets up and running by July.
The Labor Department, at 8:30 a.m. EDT, releases first-time claims for jobless benefits for the week ended May 16. Economists in a Reuters survey forecast a total of 630,000 new filings compared with 637,000 in the prior week.
Gap to announce quarterly results. Analysts, polled by Reuters Estimates, expect the retailer to report earnings of 30 cents per share, down 4 cents from the year-ago quarter.
At 10:00 a.m. EDT, Philadelphia Federal Reserve Bank releases its May business activity survey. Economists in a Reuters survey forecast a reading of -18.0 versus -24.4 in April.
By mid-morning European shares fell 2 percent to snap a five-day winning run after the United States deflated hopes of an early economic recovery by cutting growth forecasts and Standard & Poor's cut its outlook on the United Kingdom.
On Wednesday, the United States cut its growth forecasts for the next three years, forecasting sharper shrinkage of the economy this year than it did in January.
The Conference Board releases at 10:00 a.m. EDT its April report on leading economic indicators. Economists in a Reuters survey forecast a 0.8 percent increase compared with a 0.3 percent decrease in March.
Internet search engine operator Google
Regulators have questioned former Lehman Brothers Holdings
Shares of drug maker Cephalon Inc
Shares of children's clothing retailer Gymboree Corp
Shares of Advance Auto Parts Inc
Shares of data storage equipment maker NetApp Inc
(Reporting by Atul Prakash; Editing by Hans Peters)