08:17 AM EDT, 05/29/2025 (MT Newswires) -- US equity futures were higher pre-bell Thursday after the US Court of International Trade in New York late Wednesday ruled that President Donald Trump overstepped his authority in imposing a broad range of tariff.

Dow Jones Industrial Average futures were up 0.4%, S&P 500 futures were up 0.8%, and Nasdaq futures were 1.4% higher.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $64.46 per barrel and US West Texas Intermediate crude 0.3% higher at $62.04 per barrel.

The Q1 GDP report, scheduled for release at 8:30 am ET, is expected to show an unrevised contraction of 0.3%, according to estimates compiled by Bloomberg. The weekly jobless claims bulletin is expected to show new unemployment claims rising to 229,000 in the week ended May 24 from 227,000 in the preceding week.

The pending home sales index, due at 10 am ET, is expected to show a 0.9% decline for April after a 6.1% increase in March.