Latest Stock Market News Today: FTX crisis, Macy’s lifts outlook, Fed’s Bullard warns on

U.S. equity futures traded lower Thursday morning, adding to the previous days declines.

The major futures indexes suggest a slight decline when trading begins on Wall Street.

Oil prices continued to move lower on Thursday as concerns over geopolitical tensions eased, while rising numbers of COVID-19 cases in China added to demand worries.

 U.S. West Texas Intermediate (WTI) crude futures traded around $85.00 a barrel.

Brent crude futures traded around $92.00 a barrel.

On the economic calendar, traders will examine the latest report on weekly jobless claims.  More housing data will be released in the form of housing starts & permits.

Shares of Bath & Body Works are surging 21% in premarket trading. The personal care and home fragrance retailer topped Wall Street revenue estimates.

Cisco Systems shares are higher by 4% in premarket trading. The company beat first-quarter revenue estimates as easing supply chain constraints and a COVID-19 recovery in China helped meet demand for its broad networking products portfolio.

In Asia, Japan’s benchmark Nikkei 225 shed 0.4%, Hong Kong’s Hang Seng dropped 1.2% and China’s Shanghai Composite fell 0.2%.

The S&P 500 fell Wednesday after stronger-than-expected retail sales data kept investors focused on the Federal Reserve’s interest-rate path.

The broad stock market index fell 32.94 points, or 0.8%, to 3958.79, while the technology-focused Nasdaq Composite Index retreated 174.75 points, or 1.5%, to 11183.66. The Dow Jones Industrial Average lost 39.09 points, or 0.1%, closing the day at 33553.83.