09:06 AM EDT, 10/31/2024 (MT Newswires) -- US stocks look set to open lower in Thursday's trading session as investors parse key inflation and employment data that were released earlier in morning.

The Dow Jones Industrial Average futures were down 0.46%, S&P 500 futures were off 0.6%, and Nasdaq futures were moving 0.69% lower.

Oil prices were moving higher with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.94% and 0.98% respectively.

Personal income rose by 0.3% in September following August's 0.2% gain, as expected in a survey conducted by Bloomberg as of 7:40 am ET. Personal consumption expenditures rose 0.5%, compared with forecasts of a 0.4% increase. After adjusting for inflation, real PCE rose by 0.4% after a 0.2% increase in August, compared with expectations of a 0.3% increase.

Initial jobless claims came in much lower than expected, falling to 216,000 from 228,000 the previous week. Forecasters had been expecting claims to 229,000, according to Bloomberg.

In other world markets, Japan's Nikkei fell 0.50%, Hong Kong's Hang Seng was off 0.31%, and China's Shanghai Composite was up 0.42%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 dropped 0.67%, while Germany's DAX and France's CAC were down 0.56% and 0.87% respectively.

In equities, shares of Root (ROOT) soared 92% in Thursday's premarket after it reported Wednesday that it swung to a Q3 profit and posted higher total revenue compared with a year earlier. Shares of Avadel Pharmaceuticals ( AVDL ) advanced more than 27% after it said a court ruled in favor of the Food and Drug Administration against a lawsuit brought by Jazz Pharmaceuticals ( JAZZ ) regarding the FDA's approval of Lumryz oxybate treatment. Alphatec ( ATEC ) shares surged 26% after reporting higher Q3 earnings and revenue, and raised its full-year guidance. Tenon Medical's ( TNON ) advanced 23% after it reported Thursday positive results from initial clinical cases using its new Catamaran SE SI Joint Fixation Device. And shares of Remitly Global ( RELY ) climbed 23% after Wells Fargo upgraded its rating on the stock.

On the losing side, shares of Matinas BioPharma ( MTNB ) plunged 54%, piling on to a 31% loss Wednesday, after it said Thursday that it will slash its workforce by 80% and has halted all product development activities to conserve cash. Equillium ( EQ ) shares tumbled 44% after the company said Thursday that Ono Pharmaceutical decided to let expire an option to acquire Equillium's ( EQ ) rights to itolizumab. Shares of MDJM ( MDJH ) fell 47% following a slight gain the previous session. COMPASS Pathways' ( CMPS ) stock shed 35% after a slight loss on Wednesday. And shares of Estee Lauder ( EL ) lost more than 23% after it reported lower net sales from a year earlier, reduced its quarterly dividend, and withdrew its fiscal 2025 guidance.