09:24 AM EDT, 10/03/2024 (MT Newswires) -- US stocks are set to open lower in Thursday's trading session as investors parse weekly initial jobless claims that came in higher than expected and look ahead to the nonfarm payrolls report coming out Friday.

Dow Jones Industrial Average futures were down 0.4%, S&P 500 futures were off 0.3%, and Nasdaq futures were moving 0.4% lower.

Initial jobless claims rose to 225,000 from 219,000 the previous week, while analysts were expecting 222,000, according to Bloomberg. Nonfarm payroll figures, scheduled to be released Friday, are expected to rise to 148,000 in September from 142,000 the previous month, according to Bloomberg.

Oil prices were surging higher as the prospect of an all-out war in the Middle East grows, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 1.9% and 2.2%, respectively.

In other world markets, Japan's Nikkei climbed nearly 2% higher, Hong Kong's Hang Seng dropped 1.5%, and China's Shanghai Composite soared over 8%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was down marginally, while Germany's DAX was off 0.7% and France's CAC 40 was down 1%.

In equities, shares of Elevai Labs ( ELAB ) jumped 81% in Thursday's premarket session after it said its Elevai Biosciences subsidiary filed two patent applications for its lead candidate, EL-22, to treat muscle loss in obese patients. Shares of Pineapple Energy ( PEGY ) surged 43% after losing 8% on Wednesday. Wheeler Real Estate Investment Trust ( WHLR ) shares advanced 25% after soaring 99% the previous session. Shares of Rezolve AI ( RZLV ) also rose 25% after it said Wednesday that it signed a strategic partnership with Microsoft ( MSFT ) . And MicroAlgo ( VENAF ) shares climbed 15% higher, adding to a 22% gain on Wednesday.

On the losing side, shares of Kaixin ( KXIN ) tumbled 24% after soaring 172% the previous session. ANI Pharmaceuticals ( ANIP ) shares dropped 20%, adding to 3% loss on Wednesday. Fangdd Network Group (DUO) shares lost 19%, eating into a 29% gain the previous session. MicroCloud Hologram's ( HOLO ) stock fell 20%, adding to a 12% loss on Wednesday. And shares of Windtree Therapeutics ( WINT ) were down 15% after shedding 30% in Wednesday trading.