Debt ceiling; ECB meeting; Barnes and Noble earnings

premarket thursday
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1. Debt ceiling deal: President Trump has sided with Democrats to support a deal that would ensure passage of disaster relief funding as well as raising the debt ceiling and continuing to fund the government.

The measure will keep the government open through the end of December, setting up a hugely complicated year end crush of must-pass items.

But the immediate threat of breaching the debt ceiling would be lifted.

Investors reacted by sending yields on Treasury bonds maturing in October lower, which those maturing in December spiked.

2. ECB decision day: The European Central Bank's governing council is meeting Thursday to decide on monetary policy.

The central bank may also discuss how it plans to wind down its stimulus program, which includes €60 billion ($72 billion) in bond purchases each month.

The euro, meanwhile, is having a killer year, strengthening 13% against the dollar. It was trading 0.2% higher on Thursday at just below $1.19.

3. Global market overview: U.S. stock futures were lower on Thursday.

European markets opened mixed, following a tough trading session in Asia.

The Dow Jones industrial average, the S&P 500 and the Nasdaq all closed 0.3% higher on Wednesday.

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4. Earnings and economics: Barnes & Noble (BKS) will release earnings before the opening bell.

The company's sales have suffered in recent years as Amazon (AMZN) lured shoppers away from brick and mortar stores.

The weekly U.S. crude inventories report is set to be released at 11 a.m. ET. It will give an indication of the impact storm Harvey had on the energy market.

Several key refineries and production facilities closed because of the storm, including the two largest in the country.

Another major hurricane -- Irma -- is now barreling down on Florida.

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5. Coming this week:

Thursday -- ECB monetary policy meeting; Barnes & Noble results; Crude inventories report
Friday -- Kroger reports earnings