Investing.com - Wall Street futures pointed to a slightly lower open on Thursday in a session with a busy global schedule as market participants looked forward to press conferences in Vienna from both the Organization of the Petroleum Exporting Countries (OPEC) and European Central Bank (ECB) president Mario Draghi, while data stateside would give indications of the health of the labor market.
The blue-chip Dow futures edged down 12 points, or 0.07%, by 11:10AM GMT, or 7:10AM ET, the S&P 500 futures slipped 2 points, or 0.07%, while the tech-heavy Nasdaq 100 futures lost 3 points, or 0.06%.
Market participants were closely monitoring developments at the OPEC meeting in Vienna though remarks from member energy ministers seemed to suggest that no production quotas would be agreed.
The oil cartel is due to release a statement following the conclusion of the summit tentatively scheduled for 14:00GMT, or 10:00AM ET.
Also of note, following the Memorial Day holiday on Monday, the weekly government stockpile data from the U.S. will be released on Thursday at 15:00GMT, or 11:00AM ET, amid expectations for a drop of 2.5 million barrels.
U.S. crude futures dipped 0.04% to $48.99 by 11:12AM GMT, or 7:12AM ET, while Brent oil slipped 0.04% to $49.70.
Also in Vienna, markets were waiting for the ECB's monetary policy decision. With no new measures expected, the focus was on the updated outlook for inflation and growth, along with Draghi's press conference scheduled for 12:30GMT, or 8:30AM ET.
Stateside, employment data was on tap with the release of ADP jobs report for May at 12:15GMT, or 8:15AM ET, followed by weekly jobless claims data at 12:30GMT, or 8:30AM ET.
The data will be key as markets looked ahead to Friday's U.S. nonfarm payrolls report.
Solid readings could further heighten expectations for a move as soon as the Federal Reserve's (Fed) next policy meeting on June 14-15.
Fed fund futures currently price the chance of a hike at the next meeting at 21%, while the probability for a move at the July meeting was at 58%.
In that light, traders will also focus on speeches from Fed governor Jerome Powell, New York Fed president William Dudley and Dallas Fed chief Robert Kaplan throughout the day.
Meanwhile, the US dollar index dipped 0.13% at 95.30, retreating from a two-month high against a basket of major currencies, while waiting for the aforementioned references.
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