08:16 AM EDT, 03/27/2024 (MT Newswires) -- US stock futures were trending higher in Wednesday's premarket session ahead of a relatively quiet day on the economic calendar as many investors are likely looking ahead to tomorrow's jobless claims report and a key inflation gauge reading on Friday.

The Dow Jones Industrial Average futures were up 0.38%, S&P 500 futures were rising 0.35%, and Nasdaq futures were moving 0.36% higher.

The Energy Information Administration, which measures the weekly change in the number of barrels of commercial crude oil held by US firms, is slated to release its latest data at 10:00 am ET. Stockpiles for the week ending March 22 are expected to decline by 1 million barrels, after dropping by nearly 2 million barrels the previous week. It would be the third straight week of declines for US crude oil inventories.

Oil prices were moving lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude declining 0.58% to $85.11 a barrel, and 0.62% to $81.06 a barrel respectively.

On the winning side, shares of iBio (IBIO) soared 103% in recent premarket activity Wednesday after it said Tuesday that it signed a securities purchase deal for a private investment in public equity financing with expected gross proceeds of approximately $15 million. MariaDB ( MRDB ) shares jumped 85% after Progress Software ( PRGS ) said it is considering acquiring the cloud database company for $0.60 per-share. And shares of Verb Technology ( VERB ) surged 45% after it said it signed a collaboration deal with TikTok Shop for livestream shopping services.

On the losing side, shares of Gamida Cell ( GMDA ) plunged 78% after it said it signed a restructuring support agreement with certain funds managed by its principal lender Highbridge Capital Management. Direct Digital Holdings ( DRCT ) shares tumbled 45%, adding to an 8% loss on Tuesday, and after it said swung to a loss and reported lower-than-expected revenue in Q4. And shares of GameStop Corp. ( GME ) dropped 18% after it reported fiscal Q4 earnings late Tuesday that fell short of analyst expectations.