Barring a nasty surprise, it looks like markets could break their three-day losing streak Thursday.
Here are the four things you need to know before the opening bell rings in New York:
1. Time for a bounce as oil recovers?: U.S. stock futures are edging up Thursday after markets endured three consecutive days of losses.
Investors have grown increasingly nervous over the past few weeks as they consider how plunging crude oil prices will damage the oil industry and the energy boom that has helped the U.S. recovery.
Oil prices have fallen by roughly 40% since June. U.S. futures are staging a modest recovery Thursday, trading just above $61 per barrel.
That’s helping some firms in the sector: Transocean and Halliburton are rising by 2% premarket.
Shares in BP are also up by nearly 2% in London. The company said Wednesday it may cut back spending due to the tough market environment.
2. Russian rates: Russia’s central bank will announce its latest interest rate announcement at 5:30 a.m. ET. Many economists say Russia has little choice but to hike interest rates sharply to help steady its free falling currency.
Russia’s economy is suffering from plunging oil prices, rising inflation and the impact of Western sanctions imposed over the crisis in Ukraine.
3. Earnings and economics: Lululemon and RadioShack will report quarterly earnings before the opening bell. Adobe Systems will report after the close.
The U.S. government will post weekly jobless claims and monthly retail sales, both at 8:30 a.m. ET.
4. International markets overview: European markets were inching up in early trading, while all major Asian markets ended with losses.
