MARKET SNAPSHOT: U.S. Stock Futures Tumble Amid Global Stock Selloff

By Sara Sjolin, MarketWatch

Whole Foods slides more than 10% after reporting earnings

Wall Street was poised for a deep-red open on Thursday, with futures tracking a selloff in global equity markets that was driven in part by sharply rising bond yields in Europe.

Also in focus are fresh jobless claims data and Friday's highly anticipated nonfarm-payrolls report.

Stocks in Asia closed sharply (http://www.marketwatch.com/story/asia-stocks-fall-after-yellen-warning-2015-05-06-231033824) lower following Federal Reserve Chairwoman's Janet Yellen's warning on stock valuation (http://www.marketwatch.com/story/yellen-says-stock-valuations-are-quite-high-2015-05-06), while European markets slumped amid (http://www.marketwatch.com/story/asia-stocks-fall-after-yellen-warning-2015-05-06-231033824) weakness in the bond market.

Mirroring these losses, futures for the Dow Jones Industrial Average (YMM5) slumped 116 points, or 0.7%, to 17,662, while those for the S&P 500 index (ESM5) dropped 12.95 points, or 0.6%, to 2,061.25. Futures for the Nasdaq 100 index (NQM5) lost 31.50 points, or 0.7%, to 4,341.75.

"It's not just U.S. futures where we're seeing weakness, we're seeing it across the board," said Craig Erlam, senior market analyst at Oanda. "The move is being driven by movements in eurozone bond markets, where the Bund has taken another heavy hit [...] This has spread to the wider markets and indexes are being battered as a result."

The yield on 10-year German Bunds jumped 15 basis points to 0.74%, the highest level in 2015.

"It's been suggested that the change in the inflation outlook has been responsible for the weakness in bonds over the last week, with higher oil prices seen providing further upward pressure," Erlam said.

Data: Weekly jobless claims are due at 8:30 a.m. Eastern Time. The data are expected to show 277,000 Americans filed for unemployment benefits last week, according to economists polled by MarketWatch. That's more than the 262,000 the week before.

The data come a day ahead of the top-tier nonfarm-payrolls report, which is closely watched by the Fed to assess the best time for a first rate hike. Payrolls were very disappointing in March, with only 126,000 jobs added to the economy, but forecasts are for a pickup to 233,000 in April.

Also on tap, consumer credit numbers for March are due at 3 p.m. Eastern.

Among Fed speakers, Chicago Fed President Charles Evans will give an interview on CNBC at 8:30 a.m. Eastern. Evans is a voting member of the policy-setting committee this year.

Earnings: Reporting ahead of the bell, Priceline(PCLN) is projected to report first-quarter earnings (http://www.marketwatch.com/story/what-to-expect-from-pricelines-earnings-2015-05-06) of $7.72 a share, according to a consensus survey by FactSet.

Alibaba (BABA) is expected to report fiscal fourth-quarter earnings (http://www.marketwatch.com/story/what-to-watch-for-in-alibabas-earnings-2015-05-05) of 43 cents a share, while Molson Coors Brewing Co.(TAP.NV.T) is likely to post first-quarter earnings (http://www.marketwatch.com/story/what-to-look-for-in-molson-coors-earnings-2015-05-05) of 45 cents a share.

SeaWorld Entertainment Inc. (SEAS), which is still struggling with an image problem after the documentary "Blackfish", is forecast to post a loss of 59 cents a share in the first quarter.

And after the bell, CBS (CBS) and Nvidia Corp.(NVDA) are slated to report.

Movers and shakers: Shares of Zynga Inc.(ZNGA) gained 4.2% ahead of the bell after the online game maker late Wednesday posted better-than-expected first-quarter earnings (http://www.marketwatch.com/story/zynga-stock-climbs-on-strong-quarter-job-cuts-2015-05-06) and announced plans to cut 18% of its workforce.

Tesla Motors Inc.(TSLA) inched 0.5% lower premarket Thursday, shaking off better-than-expected first-quarter results reported on Wednesday.

Whole Foods Market Inc. (WFM) also reported after Wednesday's closing bell, posting sales that fell short of forecasts. Shares were down 12% premarket on Thursday.

Other markets: U.K. stocks moved sharply lower (http://www.marketwatch.com/storyno-meta-for-guid) as investors took a hands-off approach on the day of the highly anticipated general election. Read: 7 things you need to know about the U.K. election (http://www.marketwatch.com/story/7-things-you-need-to-know-about-the-uk-election-2015-05-06) (http://www.marketwatch.com/story/7-things-you-need-to-know-about-the-uk-election-2015-05-06) (http://www.marketwatch.com/story/7-things-you-need-to-know-about-the-uk-election-2015-05-06)

Oil futures (CLM5) rose for a third straight day (http://www.marketwatch.com/story/crude-rallies-again-with-price-of-wti-atop-61-2015-05-06), while most metals were on the decline. The ICE dollar index (DXY) was little changed.

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