Street eyes higher open amid oil dip

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U.S. stock index futures indicated a higher open on Thursday, shaking off sharp declines in Chinese stocks, as oil prices held above $30 a barrel.

Brent crude traded about 0.9 percent lower near $34 a barrel, while U.S. crude was off about half a percent near $32 a barrel.

The Shanghai Composite in China closed 6.40 percent lower, while Japan's Nikkei closed up 1.41 percent.

In Europe, the pan European Stoxx 600 Index was up by around 1.14 percent on Thursday morning.

On the data front, jobless claims came in at 272,000.

Durable goods orders for January rose 4.9 percent.

The Federal Housing Finance Agency scheduled to release its home price index for December at 9:00 a.m.

St. Louis Fed President James Bullard, a voting member of the Fed, said on CNBC's "Squawk Box" that he's not too concerned about a global recession but he does see a "lower trend growth rate."

Read More Citi: Risk of global recession rising

Separately, Bullard late Wednesday reiterated his opposition to further interest rate hikes given that U.S. inflation expectations have fallen and threaten the U.S. central bank's credibility.

Elsewhere, Atlanta Fed President Dennis Lockhart reiterated Fed policy for rate hikes remains data dependent, according to StreetAccount.

San Francisco Fed President John Williams is scheduled to give his outlook on the economy at 12 p.m.

On the earnings front, Baidu, Gap, Intuit, Kraft Heinz and Weight Watchers are due to report after the bell.

—CNBC's Evelyn Cheng contributed to this report