08:56 AM EDT, 05/30/2024 (MT Newswires) -- US equity futures dropped ahead of Thursday's opening bell as traders digested a deluge of economic readings, including the revised Q1 economic growth report.

Dow Jones Industrial Average futures fell 0.8%, S&P 500 futures declined 0.3%, and Nasdaq futures were down 0.2%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% and US West Texas Intermediate crude down 0.6%.

Q1 gross domestic product growth, released at 8:30 am ET, was downwardly revised to a 1.3% rate in the second estimate from 1.6% in the first estimate, in line with expectations compiled by Bloomberg.

The goods trade deficit, also released at 8:30 am ET, widened to $99.41 billion in April from $92.29 billion in March, compared with estimates for a $92.4 billion gap. New unemployment claims increased by 3,000 to 219,000 in the week ended May 25, compared with estimates for a smaller rise to 217,000.

Pending home sales, due at 10 am ET, are expected to drop by 1.1% in April following a 3.4% increase in March.

In other world markets, Japan's Nikkei closed 1.3% lower, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.6% lower. Meanwhile, UK's FTSE 100 rose 0.4%, and Germany's DAX index gained 0.07% in Europe's early afternoon session.

In equities, shares of Salesforce ( CRM ) were down 16% after the company issued fiscal Q2 guidance that trailed analysts' projections. Kohl's Corp. (KSS) shares retreated 22% after the retailer reported it swung to a fiscal Q1 loss on lower sales. Build-A-Bear Workshop ( BBW ) shares fell 12% after reporting weaker fiscal Q1 financial results.

On the winning side, Foot Locker ( FL ) shares fell 13% after the company posted lower fiscal Q1 adjusted earnings and revenue. OneMedNet ( ONMD ) shares surged 39% after the company said it secured a three-year master services deal with an undisclosed medical technology company.