U.S. futures slip on growth worries, eyes on data; Dow Jones down 0.24%

Investing.com - U.S. stock futures pointed to a lower open on Thursday, as disappointing economic reports from the euro zone and China added to concerns over the outlook for global economic growth, while markets eyed the release of U.S. data later in the data.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.24% fall, S&P 500 futures signaled a 0.28% decline, while the Nasdaq 100 futures indicated a 0.21% loss.

Sentiment remained under pressure after preliminary data showed that the euro zone’s manufacturing purchasing manufacturers' index rose more-than-expected in September, while service sector activity fell unexpectedly.

A separate report showed that manufacturing activity in Germany contracted at the slowest rate in six months in September, while service sector activity grew modestly.

Elsewhere, data earlier showed that China’s HSBC Flash Purchasing Managers Index rose slightly to 47.8 in September from a final reading of 47.6 in August.

Despite the modest uptick higher, manufacturing activity in China remained in contraction territory for the 11th consecutive month, adding to fears over a further slowdown in the region’s largest economy.

The tech sector was expected to be active, after Adobe Systems said current-quarter earnings will decline or remain flat as customers take to the company's new subscription-based model faster than expected. Shares in Adobe were down 0.36% in pre-market trade.

Apple also slipped in early trading, with shares down 0.37%, after the iPhone maker and four major publishers offered on Wednesday to let retailers such as Amazon sell e-books at a discount for two years to end a European Union antitrust investigation.

In the financial sector, Bank of America was likely to be in focus, amid reports it is planning to cut 16,000 jobs by year end and is speeding up a company-wide cost-cutting initiative amid declining revenues.

Elsewhere in company news, Liberty Global, the majority owner of Telenet Group Holding, is  planning to launch a tender offer for the remainder of the Belgian cable company, according to the Wall Street Journal.

Other stocks in focus included CarMax, ConAgra, IHS and Jefferies Group, all slated to report earnings during the U.S. session. Oracle was set to release results after the closing bell.

Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 tumbled 0.92%, France’s CAC 40 dropped 0.82%, Germany's DAX declined 0.47%, while Britain's FTSE 100 retreated 0.60%.

During the Asian trading session, Hong Kong's Hang Seng Index tumbled 1.2%, while Japan’s Nikkei 225 Index plummeted 1.57%.

Later in the day, the U.S. was to release its weekly government report on initial jobless claims, as well as an index of manufacturing activity in Philadelphia.