LONDON (CNNMoney.com) -- U.S. stock futures fell Thursday, dragged lower by ongoing concerns about the economic outlook.

At 5:15 a.m. ET, Dow Jones industrial average, S&P 500 and Nasdaq 100 futures were lower.

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.

U.S. stocks finished Wednesday's session lower after the Federal Reserve issued a gloomy forecast for the economy.

Economy: Investors will digest a number of economic reports Thursday. At 8:30 a.m. ET, the Labor Department's weekly report on jobless claims comes out.

A report on leading economic indicators comes out at 10 a.m. ET. A survey of regional manufacturing activity also comes out then.

Companies: Auto finance firm GMAC is poised to receive a second bailout from the U.S. Treasury, according to the Detroit News. The newspaper said the company is due to receive $7.5 billion more in aid.

World markets: Investors around the world were in a downbeat mood. In Asia, most shares finished lower. European stocks tumbled in morning trading.

NEW YORK (CNNMoney.com) -- Stocks opened higher Wednesday, as oil prices rose to a six-month high and Treasury Secretary Tim Geithner addressed Congress.

The Dow Jones industrial average (INDU) was up 0.8% shortly after the opening bell. The S&P 500 (SPX) index gained nearly 1%. The Nasdaq composite (COMP) advanced 0.6%.

Shares of energy producers rose as oil prices held steady above $61 a barrel ahead of weekly inventory data.

Bank stocks also advanced following Bank of America's $13.47 billion stock sale. BofA gained nearly 6%.

Stocks finished Tuesday's session mixed after a report showed an unexpected drop in homebuilding.

Banks: Treasury Secretary Tim Geithner was testifying before the Senate Banking Committee about the government's bank bailout program. In prepared remarks, Geithner said there were "welcome signs" that the financial system was recovering, but that more improvement was needed.

After the close Tuesday, Bank of America (BAC, Fortune 500) said it has raised $13.47 billion through a sale of stocks. The bank has issued 1.25 billion shares since Friday at an average price of $10.77. BofA needs to raise $33.9 billion to meet the government's stress test requirements.

Economy: President Obama's special economic advisory group is due to hold its first public meeting. The task force, led by former Fed chief Paul Volcker, is expected to discuss green jobs and energy.

At 2 p.m. ET, the Federal Reserve issues the minutes from its last policy meeting. Investors will be looking for clues about the economic outlook.

The House takes up a bill Wednesday that imposes greater restrictions on the credit card industry for raising fees and interest rates. The Senate passed the bill Tuesday by a 90-to-5 margin. President Obama has said he wants it on his desk before Memorial Day.

Also today, the Senate's Special Committee on Aging will hold a hearing on the Pension Benefit Guaranty Corp., which is reportedly facing a $33.5 billion deficit.

Companies: Retailer Target (TGT, Fortune 500) reported that first-quarter profit fell to 69 cents per share, a 7% decline from 75 cents a year earlier. The results topped analyst expectations of 60 cents per share, according to a consensus from Thomson Reuters.

Late Tuesday, PC maker Hewlett-Packard (HPQ, Fortune 500) reported quarterly results that were in line with Wall Street's estimates. The company also said it would cut 6,400 jobs, or 2% of its workforce.

World markets: Most market in Asia finished the session in positive territory. In Europe, major markets were mixed.

Japan's gross domestic product fell 4% last quarter -- the fastest pace on record for the country, the government said Wednesday. The country's GDP was 15.4% lower than the same time period last year, according to figures released by the Cabinet Office.

Oil and money: Crude prices rose to a six-month high, up $1.21 to $61.28 a barrel. Later in the day, the Energy Department is due to release its weekly report on fuel inventories.

NEW YORK (CNNMoney.com) -- U.S. stocks were set for a mixed open Wednesday, as oil prices rose to a six-month high and investors pondering some corporate quarterly results.

At 7 a.m. ET, Dow Jones industrial average and S&P 500 futures were higher, while Nasdaq 100 futures were lower.

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.

U.S. stocks finished Tuesday's session mixed after a report showed an unexpected drop in homebuilding.

Art Hogan, chief market strategist at Jefferies & Co., said futures were "directionless" on Wednesday, due to a lack of market drivers.

Economy: President Obama's special economic advisory group is due to hold its first public meeting. The taskforce, led by former Fed chief Paul Volcker, is expected to discuss green jobs and energy.

At 2 p.m. ET, the Federal Reserve issues the minutes from its last policy meeting. Investors will be looking for clues about the economic outlook.

The House takes up a bill Wednesday that imposes greater restrictions on the credit card industry for raising fees and interest rates. The Senate passed the bill Tuesday by a 90-to-5 margin. President Obama has said he wants it on his desk before Memorial Day.

Banks: Treasury Secretary Tim Geithner is due to testify before the Senate Banking Committee about the government's bank bailout program at 9:30 a.m. ET.

Companies: Retailer Target (TGT, Fortune 500) is due to post its quarterly earnings before the opening bell.

Late Tuesday, PC maker Hewlett-Packard (HPQ, Fortune 500) reported quarterly results that were in line with Wall Street's estimates. The company also said it would cut 6,400 jobs, or 2% of its workforce.

World markets: Most market in Asia finished the session in positive territory. In Europe, major markets edged higher.

Oil and money: Crude prices rose to a six-month high above $60 a barrel. The price of oil was up 44 cents to $60.54 a barrel. Later in the day, the Energy Department is due to release its weekly report on fuel inventories.

The dollar slipped versus the euro and the yen, but rose against the British pound.

NEW YORK (CNNMoney.com) -- Stocks ended mixed Tuesday, after trading in a tight range on both sides of breakeven, following an unexpected drop in homebuilding that clouded the economic outlook.

The Dow Jones industrial average (INDU) fell 29 points, or 0.3%, while the S&P 500 (SPX) index lost less than 2 points. The Nasdaq composite (COMP) gained about 2 points.

Bank stocks showed early strength but gains faded near the closing bell. Shares of energy producers rose along with crude prices, which settled near $60 a barrel.

After the close, tech bellwether Hewlett-Packard (HPQ, Fortune 500) reported quarterly profit and revenue that was in line with estimates.

Stocks have gained significant ground over the past two months on bets the economy is headed for a recovery later this year. The major indexes all rose about 3% Monday after ending the previous week lower.

"On balance, we've got a market that has had an incredibly significant bounce from the lows of March 9 and is looking for new catalysts to go higher," said Art Hogan, chief market analyst at Jefferies & Co. in Boston.

Among the potential catalysts for Wednesday's session: Federal Reserve meeting minutes from last month will give investors a glimpse into how the central bank views the economy. And retail heavyweight Target (TGT, Fortune 500) will report fiscal first-quarter financial results before the opening bell.

While many analysts say the market is due for a pull back given the strength of the recent rally, Wall Street remains relatively optimistic about the possibility of moderate economic growth in the months ahead.

"The general theme is that some recent reports are starting to show signs of stabilization in the decline, and that's providing some relief," said Ryan Larson, senior equity trader at Voyageur Asset Management in Chicago.

In a sign the market is becoming slightly more confident, the CBOE Volatility Index, or VIX, fell below the key 30 level for the first time since September. The so-called fear index hit an all-time high of 77 in October when the global economy was on the verge of a meltdown.

Economy: The Commerce Department reported record lows for housing starts and building permits in April.

Housing starts dropped nearly 13% to the seasonally adjusted annual rate of 458,000 from a revised 525,000 in March. Building permits fell 3% to an annually adjusted rate of 494,000 in April, from the revised rate of 511,000 in March.

But the report had a bright spot. While multifamily dwellings declined sharply, starts and permits for single-family homes at the core of the housing market rose slightly.

Many analysts said the decline in new home construction was positive since the residential real estate market is already overstocked with unsold homes.

Banks: The Federal Reserve is in talks with a number of banks about repaying billions of dollars in government bailout funds they received under the Troubled Asset Relief Program.

Goldman Sachs (GS, Fortune 500), Morgan Stanley (MS, Fortune 500) and JPMorgan (JPM, Fortune 500) are among the largest banks that have applied to repay TARP money, sources told Reuters.

The banks are rushing to return the funds to avoid what they say are restrictive policies and demonstrate to investors that they are financially healthy.

Companies: Hewlett-Packard Co. reported a 17% drop in quarterly profit that still met Wall Street's forecasts. Sales fell 3% in the quarter.

HP said its results were hurt by charges related to its purchase of tech services firm EDS. The stock fell 4% in after-hours trading.

Earlier, home-improvement retailer Home Depot reported quarterly earnings that beat expectations. The company posted operating income of 35 cents per share, while a consensus of analyst forecasts from Thomson Reuters had expected 29 cents.

Despite the report, shares of Home Depot (HD, Fortune 500) fell more than 5%.

Shares of luxury retailer Saks (SKS) jumped 22% after it reported a smaller-than-expected quarterly loss and said it would continue to aggressively cut costs to offset declining sales.

Credit card company American Express (AXP, Fortune 500) said late Monday that it would slash 4,000 jobs, or about 6% of its global workforce.

Autos: President Obama announced stricter fuel economy standards aimed at cutting down vehicle greenhouse gas emissions.

While many automakers welcomed the effort to make the standards more universal, analysts said consumers may be reluctant to shift to smaller, more efficient cars if gas prices remain relatively low.

The national average price of a gallon of unleaded gasoline rose to $2.314, its 21th consecutive increase, according to a daily reading released by the motorist group AAA.

Bonds: Treasury prices slumped, raising the yield on the benchmark 10-year note to 3.24% from 3.21% Monday. Treasury prices and yields move in opposite directions.

Other markets: Stocks in Japan rallied, with the Nikkei gaining nearly 3%. India's benchmark SENSEX index closed moderately higher after a 17% surge in the previous session. European exchanges closed higher, with the DAX in Germany up 2.2%.

In currency trading, the dollar fell against major international currencies, including the euro, the British pound and the yen.

U.S. light crude oil for June delivery rose 62 cents to settle at $59.65 a barrel on the New York Mercantile Exchange. The contract rose to a high of $60.48 in pre-market, electronic trading.

COMEX gold for June delivery rose $5 to settle at $926.70 an ounce. 

The Dow Jones industrial average (INDU) and the S&P 500 (SPX) index were down a few points shortly after the opening bell. The Nasdaq composite (COMP) lost 0.6%.

Manus Cranny, market analyst at MF Global in London, said the pre-market reports on the housing market would have a major impact on Tuesday trading.

"At our peril, should they disappoint," he said, before the reports came out and confirmed his fears.

Stocks soared Monday as investors took an more upbeat view on the economy. The Dow, S&P 500 and Nasdaq all gained about 3%, driven by an upbeat outlook from Lowe's (LOW, Fortune 500), and Goldman Sachs' (GS, Fortune 500) upgrade of Bank of America (BAC, Fortune 500).

Economy: The Commerce Department reported declines in April for housing starts and building permits.

Housing starts in April dropped nearly 13% to the seasonally adjusted annual rate of 458,000, a record low, from the revised 525,000 in March. Housing starts were expected to increase to 527,000 units in April, according to Briefing.com consensus.

Building permits fell 3% to an annually adjusted rate of 494,000 in April, from the revised rate of 511,000 in March. That was significantly below Briefing.com's expectations of a rise to 530,000.

Companies: Home improvement retailer Home Depot (HP) reported quarterly earnings that beat expectations. The company posted operating income of 35 cents per share, while a consensus of analyst forecasts from Thomson Reuters had expected 29 cents.

Credit card company American Express (AXP, Fortune 500) said late Monday that it would slash 4,000 jobs, or about 6% of its global workforce.

On the tech front, Hewlett-Packard (HPQ, Fortune 500) is due to post results after U.S. markets close.

Autos: Later Tuesday, President Obama is due to announce stricter fuel economy standards aimed at cutting down vehicle greenhouse gas emissions.

World markets: Stocks in Japan rallied, with the benchmark Nikkei gaining nearly 3%. India's benchmark SENSEX index closed moderately higher after a 17% surge in the previous session. In morning trading, major European exchanges were higher.

Money and oil: The dollar fell versus major international currencies, including the euro, the British pound and the yen. The price of oil rose 15 cents a barrel to $59.18 after climbing to a high of $60.48 in electronic trading.