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US stock futures cut losses after claims, GDP data

U.S. stock-index futures reduced their drop on Thursday, after the second estimate for second-quarter economic growth came in better than expected and initial jobless claims remained below 300,000 last week.

Down 54 points ahead of the reports, futures for the Dow Jones Industrial Average were lately off 45 points.

Second-quarter GDP increased 4.2 percent and jobless claims totaled 298,000 last week.

Dollar General fell in early New York trading after the discount retailer reported second-quarter revenue below estimates. Abercrombie & Fitch shares dropped as the apparel retailer beat earnings estimates but its quarterly revenue came in short.

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Stock of JPMorgan Chase will be worth watching, on reports that the bank was one of a number of U.S. financials struck by hackers this month. Plus, reports out late on Wednesday suggest that BP's largest refinery has suffered an explosion.

The Treasury is scheduled to auction $29 billion in seven-year bonds on Thursday.

In geopolitical news, Kiev accused Moscow of launching a military incursion across its eastern border late on Wednesday.

Gold futures jumped $13.50, or 1.1 percent, to $1,296.90 an ounce and crude-oil futures added 12 cents, or 0.1 percent, to $94 a barrel.

The 10-year Treasury year note fell 2 basis points to 2.339 and the dollar edged higher against an index of other global currencies.

—By CNBC's Katy Barnato