09:06 AM EDT, 05/22/2025 (MT Newswires) -- US equity futures posted narrow losses ahead of Thursday's opening bell as traders digested a newly passed budget bill amid concerns of worsening US deficit.

Dow Jones Industrial Average futures slipped 0.3%, S&P 500 futures slipped 0.1%, and Nasdaq futures were flat.

The US House of Representatives approved early Thursday a budget bill that includes lower taxes and additional military spending, according to media reports. The proposed legislation will now go to the Senate for its approval.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.5% at $63.95 per barrel and US West Texas Intermediate crude 1.5% lower at $60.64 per barrel.

New unemployment claims, released at 8:30 am ET, fell to 227,000 in the week ended May 17 from 229,000 in the preceding week, compared with estimates compiled by Bloomberg for an increase to 230,000.

The flash S&P Global Composite Purchasing Managers' Index for May is due at 9:45 am ET.

Existing home sales, slated for 10 am ET, are seen rising to a 4.15 million annual rate for April from 4.02 million previously.

In other world markets, Japan's Nikkei closed 0.8% lower, Hong Kong's Hang Seng ended 1.2% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 fell 0.8%, and Germany's DAX index dropped 0.8% in Europe's early afternoon session.

In equities, Advance Auto Parts ( AAP ) shares increased 33% pre-bell after the company reported fiscal Q1 financial results that beat analysts' estimates. Urban Outfitters ( URBN ) stock was up 18%, a day after the company reported higher fiscal Q1 earnings and sales.

On the losing side, CEL-SCI Corp. ( CVM ) shares slumped 46% after the company said late Wednesday it priced an offering of 2 million shares for total gross proceeds of $5 million.