08:18 AM EDT, 08/01/2024 (MT Newswires) -- US equity futures were higher Thursday, with investor sentiment buoyed by upbeat quarterly earnings from social media giant Meta Platforms ( META ) .

The Dow Jones Industrial Average futures shares gained 0.1%, S&P 500 futures increased 0.4%, and Nasdaq futures were up 0.4%.

Meta Platforms ( META ) reported late Wednesday Q2 earnings and revenue that topped analysts' estimates. Shares in the company were up 8% pre-bell.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $81.31 per barrel and US West Texas Intermediate crude up 0.6% at $78.36 per barrel.

New unemployment claims, scheduled for release at 8:30 am ET, are expected to rise to 236,000 in the week ended July 27 from 235,000 claims in the preceding week. Nonfarm productivity is expected to increase at a 1.7% annualized rate in Q2 versus a 0.2% growth in Q1, while unit labor costs are expected to slow to a 1.8% growth rate for the quarter from 4% previously, according to estimates compiled by Bloomberg.

The Manufacturing Purchasing Managers' index, slated for 9:45 am ET, is expected to come in at 49.5 for July following a 51.6 level in the prior month.

The Institute for Supply Management's manufacturing index, due at 10 am ET, is seen coming in at 48.8 in July versus 48.5 in June.