Dow Jones Industrial Average futures fell as sliding bond yields raised concern about the pace of global economic growth and took focus away from continued better-than-expected earnings results Thursday morning.
Futures for the 30-stock index let go of 164 points, or 0.5%, to 34,651.
Futures for the S&P 500 dipped 15 points, or 0.3%, to 4,352.75.
Futures for the NASDAQ Composite Index gave up 3.75 points to 14,888.
The move lower in yields dampened enthusiasm for the cyclical trade in the pre-market with shares of Caterpillar, General Electric and Boeing lower. Cyclical stocks are those closely linked to a recovering economy.
Bank shares, including Wells Fargo and Bank of America, were lower in pre-market, despite posting better-than-expected results earlier in the week, as the falling yields pinch their profitability.
Shares of Morgan Stanley dipped in early morning trading even after the company's second-quarter earnings report Thursday morning topped analysts' expectations with strong equities trading and investment banking results. Morgan Stanley shares were up 35% this year into the results and the stock may be reacting more to the outlook for yields than its actual results.
Delta shares bucked the trend, however, gaining in pre-market trading after an upgrade from Raymond James.
Netflix shares also rose pre-market trading, gaining 2% after it hired a veteran video-game executive as it pushes deeper into gaming.
Other large tech shares were higher in pre-market trading, continuing a trend this week. Apple and Alphabet gained in pre-market trading.
Investors were also awaiting key developments coming later in the session including weekly jobless claims data at 8:30 a.m. ET and a Congressional testimony from Federal Reserve Chair Jerome Powell set for 9:30 a.m. ET.
Overseas, in Japan, the Nikkei 225 faded 1.2% Thursday, while in Hong Kong, the Hang Seng index rose 0.8%.
Oil prices fell $1.34 to $71.82 U.S. a barrel.
Gold prices gained 80 cents to $1,825.80 U.S. a pound.