Futures turned lower Thursday following news that weekly jobless claims climbed unexpectedly last week and following a sharp rally in the previous session.
New U.S. claims for unemployment benefits posted a surprising gain of 6,000 last week to a seasonally adjusted 402,000, according to the Labor Department, edging above 400,000 for the first time in over a month. Economists surveyed by Reuters had expected claims at 390,000.
The jobless claims report comes ahead of a crucial government employment data on Friday.
Stocks rallied sharply Wednesday, with the Dow posting its biggest one-day point and percentage gain this year.
The world's major central banks including the ECB, Federal Reserve, Bank of England and the central banks of Canada, Japan and Switzerland agreed to coordinate action to ease the increasing strainson the global financial system.
The move is designed to "enhance their capacity to provide liquidity support to the global financial system."
In company news, Target fell after the big-box retailer reported lower-than-expected November sales.
Meanwhile, Macy's, Costco Wholesale, Limited Brands, and teen retailer Buckle all reported sales gains that topped Wall Street's estimates.
