U.S. Stock Futures Waver

U.S. stock futures were mixed Thursday as investors considered a flood of corporate earnings reports.

S&P 500 futures added one point, or 0.1%, to 2109. E-mini Dow futures slipped 15 points, or 0.1%, to 17770. E-mini Nasdaq-100 futures gained seven points, or 0.2%, to 4624. Changes in stock futures don't always accurately predict moves after the opening bell.

Results from General Motors Co. and Caterpillar Inc. sparked big moves ahead of the opening bell. And while several companies still have to post results, investors say the early reports have given them confidence that companies can surpass the low expectations for earnings. Including results from 125 companies in the S&P 500, earnings are on track to fall 2.7%, according to FactSet. That's better than the 4.5% decline forecast by analysts.

"With the overall macro situation a bit more calm in Greece and China, the market is digesting what's been better-than-expected corporate earnings for the most part in the U.S.," said Steven Rees, global head of equity strategy at J.P. Morgan Private Bank.

General Motors Co. said second-quarter profit rose sharply as U.S. customers continued to flock to profitable SUVs and crossover vehicles. Shares rose 6.7% premarket.

Caterpillar Inc. reported a steeper-than-expected 13% drop in sales and cut its sales outlook for the year by $1 billion. Shares fell 3% premarket.

Investors will get a reading on the labor market Thursday. Jobless claims in the most recent week are expected to slip to 278,000 from 281,000 in the previous week, according to economists surveyed by The Wall Street Journal.

European stocks were mixed Thursday. France's CAC-40 rose 0.1%, while Germany's DAX lost 0.1%. An early-morning vote in Greece's Parliament approved a second batch of economic overhauls demanded by creditors, paving the way for bailout talks.

The slump in commodities prices showed signs of abating. Gold futures added 0.8% to $1100.30 an ounce. Crude-oil futures rose 0.2% to $49.28 a barrel.

In other earnings news, Comcast Corp. said its second-quarter profit rose 7.3%, boosted by the movie "Jurassic World" and revenue growth at its broadband and business services divisions. Shares were down 0.1% premarket.

Qualcomm Corp. said late Wednesday it would cut spending by $1.4 billion and consider restructuring its operations, as the company disclosed a 47% drop in quarterly profit. Shares slipped 2.4% premarket.

Also after the bell on Wednesday, SanDisk Corp. reported steep drops in profit and revenue for its second quarter. Results came in above Wall Street expectations, boosting shares 13% in premarket trading.

Write to Saumya Vaishampayan at [e-mail]

Access Investor Kit for Caterpillar, Inc.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US1491231015

Access Investor Kit for General Motors Co.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US37045V1008

Subscribe to WSJ: http://online.wsj.com?mod=djnwires