Stocks set for lower open

NEW YORK (CNNMoney.com) -- U.S. stocks were poised to open lower Thursday morning, following a slew of economic reports and as gas topped $3 a gallon for the first time in more than two years.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all a slightly lower ahead of the bell. Futures measure current index values against perceived future performance.

On Wednesday, Stocks climbed to fresh two-year highs. Trading is usually light in the sessions before the holidays, but investors are focusing on -- and feeling bullish about -- 2011.

Pre-holiday trading sessions are usually pretty quiet. "The equity markets may not be that interesting -- unless there is big news that pops, and we don't see any on the horizon," said Bob Enck, President and CEO of Equinox Fund Management. As investors focus on the next year, 2011 is "clearly starting to improve."

In particular, having the clarity on the tax rates here in the U.S. is encouraging to investors, according to Enck.

U.S. markets will be closed Friday for the holiday weekend.

Economy: The majority of the economic reports due out Thursday won't be market movers, unless they show significant surprises. "The one that everyone will be zeroing in for some time to come is the jobs report," Enck said. The government's next reading on the unemployment rate is due out in early January -- after the holidays.

Before the opening bell, the Commerce Department reported that personal income rose 0.3% and personal spending rose 0.4% in November. The results were mixed, compared to expectations.

A consensus of economists surveyed by Briefing.com expected the report to show income rose by 0.2% in November, and spending to have risen 0.5% during the month.

Meanwhile, the Department of Labor announced that initial jobless claims fell 3,000 to 420,000 in the week ended Dec. 18. Claims were expected to have edged up to 424,000.

The Commerce Department's report on November durable goods orders declined 1.3% in November, a bit more than the expected decline of 1.1%.

The University of Michigan's final reading on consumer sentiment in December is due after the start of trading. It's expected to tick up to 74.8, from 74.2 in the previous month.

Meanwhile, the new home sales index for November from the Census Bureau is due at 10 a.m. ET. The index is expected to have risen to a seasonally adjusted annual rate of 300,000 units, from a 283,000 unit rate in the previous month.

World markets: European stocks were mixed in afternoon trading. Britain's FTSE 100 was up 0.2% and Germany's DAX rose 0.1%, while France's CAC 40 slipped 0.4%.

Thursday morning, China said it will support the eurozone through its debt crisis. "China supports the financial stabilization package launched by the EU and IMF to deal with the sovereign debt crisis in Europe," said Jiang Yu, a Chinese Foreign Ministry spokeswoman during a weekly briefing. "We are willing to support Eurozone countries to overcome the crisis, and achieve their economic recovery and financial health. Whether in the past, the present or the future -- Europe was, is and will be one of the main markets for China's foreign exchange reserve investments."

Asian markets ended their session lower. The Shanghai Composite shaved 0.8%, the Hang Seng in Hong Kong lost 0.6% and Japan's Nikkei edged down by 0.2%.

Companies: Jo-Ann Stores (JAS) said Thursday it was being acquired by private-equity firm Leonard Green & Partners for $1.6 billion, or $61 per share in cash. The stock surged by 33% in pre-market trading.

Currencies and commodities: Oil for February delivery slipped 11 cents to $90.37 a barrel. Enck said that oil being more than $90 a barrel is a pretty big deal for markets. "That will be more of a market mover than most other items," he said. "Rising demand for commodities is a big deal."

On the one hand, rising demand for commodities shows strength in the global economy. However, if prices rise too far -- it could begin to impact corporate profits too, Enck said.

Gas prices surpassed the milestone $3 mark Thursday for the first time since Oct. 17, 2008, as the national average compiled by motorist group AAA reached $3.013 a gallon. Gas prices have risen more than 4% from a month ago, and are nearly 16% higher than the a year ago.

The dollar edged up very slightly against the euro, but lost ground to the Japanese yen and the British pound.

Gold futures for February delivery fell $9.80 to $1,377.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury was slightly lower, pushing the yield up to 3.37%.

Both bonds and commodity markets have a half-day Thursday, and are closed Friday.

-- CNN's Steven Jiang in Beijing, China contributed to this report.