07:33 AM EDT, 05/15/2025 (MT Newswires) -- US equity markets were tracking in the red before Thursday's opening bell as traders await key economic data on wholesale prices and retail sales, along with remarks from Federal Reserve Chair Jerome Powell.

The S&P 500 declined 0.5%, the Dow Jones Industrial Average decreased 0.3% and the Nasdaq was off 0.6% in premarket activity. The S&P 500 and the Nasdaq finished Wednesday's trading session higher, notching gains for the third consecutive day, while the Dow closed lower.

Last month's producer price index report, a measure of wholesale prices, and retail sales report are scheduled to be released at 8:30 am ET. Earlier in the week, the Bureau of Labor Statistics reported that US consumer prices rebounded last month, but missed Wall Street's estimates, while annual inflation eased to the lowest level since February 2021.

Investors will also be focusing on Powell's speech scheduled for 8:40 am at a conference in Washington for any clues on the Fed's future monetary policy plans. Fed Governor Michael Barr is expected to speak at 2:05 pm.

President Donald Trump on Tuesday repeated his call for the central bank to cut interest rates, saying there was no inflation and prices of gas, energy and groceries are down. The Fed kept its benchmark lending rate unchanged last week and warned that upside risks to inflation and unemployment have increased.

Thursday's economic calendar also has the weekly jobless claims bulletin, the Philadelphia Fed manufacturing and the Empire State manufacturing indexes, both for May, the industrial production bulletin for April, and the housing market index for the current month.

Shares of Foot Locker ( FL ) surged 82% pre-bell after the footwear retailer agreed to be acquired by Dick's Sporting Goods (DKS) in a deal with an equity value of about $2.4 billion. UnitedHealth Group ( UNH ) dropped 6.2% following media reports that the health insurance giant is under an investigation for potential Medicare fraud.

Cisco Systems ( CSCO ) shares rose 4% as the networking equipment maker's fiscal third-quarter results surpassed Wall Street's estimates. Boeing ( BA ) inclined 1.9% as it secured an order from Qatar Airways for up to 210 jets.

Walmart ( WMT ) , Alibaba Group ( BABA ) , Deere (DE), NetEase ( NTES ) and Advanced Drainage Systems ( WMS ) report their latest financial results before the bell, among others. Applied Materials ( AMAT ) and Take-Two Interactive Software ( TTWO ) post earnings after the markets close.

US Treasury yields fell in premarket action, with the two-year rate retreating 2.3 basis points to 4% and the 10-year rate declining 1.4 basis points to 4.51%.

West Texas Intermediate crude oil slipped 3.5% to $60.92 a barrel before the open. Commercial crude stockpiles in the US saw a surprise build last week as propane and propylene inventories increased, government data showed Wednesday.

The Organization of the Petroleum Exporting Countries on Wednesday maintained its global oil demand projections for 2025 and 2026.

Bitcoin moved down 1.7% to $101,761, while gold nudged down 0.3% to $3,178 per troy ounce.