Stock index futures pointed to a lower open on Wall Street on Thursday, with futures for the S&P 500 down 0.29 percent, Dow Jones futures down 0.27 percent and Nasdaq 100 futures down 0.56 percent at 0735 GMT.

Cisco Systems Inc warned that it would fare worse this quarter than Wall Street had feared, and laid out plans for global job cuts as it struggles to revive growth. Its shares traded in Frankfurt were down 3.3 percent.

Asian and European stock markets dropped on Thursday, as the renewed sell-off in commodities rattled investors. Shares of mining majors such as Rio Tinto and BHP Billiton were down around 2.2 percent.

The wave of profit taking in commodities pulled copper prices to their lowest level since December, while spot silver lost more than 3 percent in a choppy session.

The Reuters/Jefferies CRB index <.CRB>, a broad measure of commodity performance, has lost nearly 9 percent so far in May.

On the macro front, investors await April retail sales, April producer price index as well as weekly jobless claims.

American International Group and the U.S. Treasury on Wednesday said they would sell around $9 billion in AIG stock, but sources familiar with the situation said the Treasury would pull the sale if it cannot be done profitably.

Japan's Takeda Pharmaceutical Co <4502.T> is in talks to buy privately-held Swiss rival Nycomed, which has a significant presence in Europe and emerging markets, sources told Reuters.

U.S. stocks nearly erased a three-day rally on Wednesday as energy and other commodity shares sank, feeding worries about the market's ability to stay on its upward path.

The Dow Jones industrial average <.DJI> ended down 130.33 points, or 1.02 percent, at 12,630.03. The Standard & Poor's 500 Index <.SPX> down 15.08 points, or 1.11 percent, at 1,342.08. The Nasdaq Composite Index <.IXIC> down 26.83 points, or 0.93 percent, at 2,845.06.

(Reporting by Blaise Robinson. Editing by Jane Merriman)