Futures hold gains amid weekly claims, PPI

U.S. stock index futures indicated a higher open on Thursday, with investors finding some relief from calmer bond markets and a weaker dollar, amid mixed economic data.

The Dow futures held morning gains of more than 100 points. The U.S. 10-year Treasury yield was 2.26 percent. The U.S. dollar fell, while the euro briefly topped $1.14 for the first time since February.

Weekly jobless claims came in at 264,000, a touch below last week's reading and below expectations for a slight increase. The initial filings for unemployment benefits per week remain near 15-year lows.

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A trader works on the floor of the New York Stock Exchange.
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A trader works on the floor of the New York Stock Exchange.

The producer price index for April fell 0.4 percent, with the core figure down 0.2 percent. The report was expected to show a slight uptik.

The monthly measure of input costs is a secondary factor in determining the rate of change in prices, after the consumer price index.

The Federal Reserve will eye both the employment situation and inflation for signs the economy is ready for an interest rate hike.

Consensus is for a rate hike in September or later in the year, but central bank policymakers have not ruled out a June liftoff.

Earnings due on Thursday include Kohl's before market open, with Applied Materials, Nordstrom, El Pollo Loco, King Digital and Party City all due after the bell.

Retail sales data, published Wednesday, came in flat for April, with the ex-autos figure up just 0.1 percent, below estimates of a 0.5 percent gain.

The figures saw U.S. stocks end the day mixed, as investors remained wary of climbing bond yields and the lack of indications for a strong second-quarter rebound in the economy.

In Europe, European equities traded lower Thursday amid growing concerns for the health of the U.S. economy.

CNBC's Evelyn Cheng contributed to this report