US pre-open: Markets start to turn ahead of opening bell

The Dow Jones Industrial Average was set to open down at least 53 points, while the S&P 500 and the Nasdaq were expected to start the session 7 and 16 points lower respectively.

Jobless claims data is due at 1330 GMT as well as non-farm productivity, and at 1500 GMT factory orders data will be out.

Oil leads most Asian stocks higher

Elsewhere, Asian markets rose on Thursday, tracking upwards with oil prices, which were boosted in US trading overnight as the dollar suffered its worst day in seven years.

Weaker-than-anticipated service sector data out of the United States put pressure on the greenback, which led to gains for commodities overnight extending into the Asian trading day.

There was speculation in the People's Republic that "the Fed may only increase interest rates twice this year, largely down from previous market expectations", said Guodu Secutiries analyst Xiao Shijun, leading to the lift in Chinese stocks.

European stocks were in the black but off earlier highs as investors sifted through a deluge of earnings amid steadying oil prices.

After a string of rises, oil price began to turn again with West Texas Intermediate down 0.06% to $32.26 a barrel and Brent dropping 0.97% to $34.70.

The dollar was down against all the main currencies, dropping 0.10% against the pound, 0.82% against the euro and 0.50% against the yen. Spot gold was up 0.44% to $1,147.67.

In company news, shares in GoPro were down over 10% in pre-market trade after the company posted a fourth quarter loss and gave a forecast that fell short of expectations.#

Yahoo shares were on the rise, up nearly 4%, after the company was upgraded to buy from neutral/high risk at Citi on the potential for a buyout.