US futures fall as Street turns attention to data, Yellen's speech

U.S. stock index futures indicated a lower open on Thursday as traders analyzed economic of data and anticipated Friday's speech from U.S. Federal Reserve Chair Janet Yellen.

Initial jobless claims fell for a third straight week to to 261,000. Durable goods orders for July rose 4.4 percent, above expectations. The Markit Services PMI is due at 9:45 a.m.

Yellen is set to speak in Jackson Hole, Wyoming on Friday, and traders will be watching as to whether she gives any indications on rate hikes.

In oil markets, Brent crude traded at $48.95 a barrel on Thursday, down 0.3 percent, while U.S. crude held at $46.50 a barrel, down 0.5 percent.

In Europe, the pan European Stoxx 600 Index (^STOXX) was down 0.92 percent on Thursday. In Asia, Japan's Nikkei (Nihon Keizai Shinbun: .N225)closed 0.25 percent lower on Thursday, while in China the Shanghai Composite (Shanghai Stock Exchange: .SSEC) closed 0.57 percent lower.

On the earnings front, Dollar General and Tiffany, among others,reported quarterly results before the open. Autodesk (ADSK)and Splunk (SPLK)are among companies set to report after the bell.

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