09:03 AM EDT, 08/08/2024 (MT Newswires) -- US equity futures turned higher ahead of Thursday's opening bell as traders digested a lower-than-expected jobless claims report.

The Dow Jones Industrial Average futures increased 0.4%, S&P 500 futures rose 0.7%, and Nasdaq futures were up 1.1%.

New unemployment claims, released at 8:30 am ET, dropped to 233,000 in the week ended Aug. 3 from 250,000 claims in the prior week, compared with estimates compiled by Bloomberg for a decline to 240,000 claims.

Equity markets have seen dramatic swings since Friday, after the Bureau of Labor Statistics reported a weaker-than-expected jobs report for July, stoking concerns about a potential recession.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.4% at $78.64 per barrel and US West Texas Intermediate crude up 0.5% at $75.61 per barrel.

In other world markets, Japan's Nikkei closed 0.7% lower, Hong Kong's Hang Seng finished 0.08% higher, and China's Shanghai Composite ended flat. Meanwhile, UK's FTSE 100 fell 0.8%, and Germany's DAX index declined 0.2% in Europe's early afternoon session.

In equities, shares of Eli Lilly ( LLY ) were 12% higher pre-bell after the company posted higher Q2 adjusted earnings and revenue and raised its 2024 outlook. Zillow Group ( ZG ) shares rose more than 12% after the company reported improved Q2 financial results.

On the losing side, Warner Brothers Discovery (WBD) fell more than 10% after the company posted weaker Q2 financial results. Bumble (BMBL) shares retreated more than 40% after the company slashed its 2024 revenue outlook.