09:29 AM EDT, 03/28/2024 (MT Newswires) -- US stocks look set to open flat in Thursday's trading session as investors prepare to sift through a raft of economic data coming out this morning, including GDP, jobless claims, and consumer sentiment reports, as well as the monthly pending home sales index and the weekly Baker Hughes rig count.

The Dow Jones Industrial Average futures were marginally higher, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% lower.

US GDP was revised higher to a 3.4% increase in Q4 from a 3.2% gain in the previous estimate, compared with expectations for no revision in a survey compiled by Bloomberg, while weekly initial jobless claims declined to 210,000 from 212,000 the previous week, lower than the consensus forecast of 212,000.

The University of Michigan's final March Consumer Sentiment Index reading, set for release at 10 am ET, is expected to remain steady at 76.5 in March after a 76.9 reading in February. The National Association of Realtors' pending home sales index, also due at 10 am ET, is expected to rise 1.3% in February after a 4.9% fall during the previous month.

Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude up 1.2% at $86.59 a barrel and 1.7% at $82.69 a barrel, respectively.

In other world markets, Japan's Nikkei was down 1.5%, Hong Kong's Hang Seng was up 0.9%, and China's Shanghai Composite was 0.6% higher. Meanwhile, in Europe's early afternoon session, the UK's FTSE 100 was up 0.3%, while Germany's DAX and France's CAC were 0.1% and 0.3% higher, respectively.

On the winning side, shares of Avalo Therapeutics ( AVTX ) were up over 288% in Thursday's premarket session after the company said overnight it acquired closely held AlmataBio and the phase 2-ready anti-IL-1beta mAb, or AVTX-009, to treat hidradenitis suppurativa, a severe autoimmune disease. Xilio Therapeutics ( XLO ) stock was 191% higher after the company said it signed an exclusive license agreement with Gilead Sciences ( GILD ) to develop and commercialize Xilio's phase 1 tumor-activated IL-12 molecule dubbed XTX301. Kidpik ( PIK ) shares were up 83%, adding to an over 5% rise on Wednesday.

On the losing side, shares of NuCana ( NCNA ) were down more than 23% after the company said Wednesday it plans to change the ratio of its American Depository Shares to its ordinary shares to one ADS representing 25 ordinary shares. Gamida Cell ( GMDA ) stock was down 20%, a day after reporting a larger-than-expected Q4 net loss per share. MillerKnoll ( MLKN ) shares were 19% lower after it reported lower fiscal Q3 adjusted earnings and sales alongside a Q4 outlook that missed estimates.