US equity futures were flat ahead of Thursday's opening bell as traders digested a deluge of corporate earnings.

The Dow Jones Industrial Average futures increased 0.1%, S&P 500 futures gained 0.1%, while Nasdaq futures slipped 0.1%.

Eli Lilly (LLY) and Philip Morris (PM) both reported pre-bell higher Q4 adjusted earnings and revenue. Meanwhile, Amazon (AMZN) is scheduled to report after the closing bell.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $75.04 per barrel and US West Texas Intermediate crude 0.6% higher at $71.44 per barrel.

New unemployment claims, released at 8:30 am ET, rose to 219,000 in the week ended Feb. 1 from 208,000 in the previous week, compared with estimates compiled by Bloomberg for 213,000 claims. Nonfarm productivity rose by 1.2% in Q4, in line with expectations; while unit labor costs rose by 3% versus estimates for a 3.4% increase.

In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng ended 1.4% higher, and China's Shanghai Composite finished 1.3% higher. Meanwhile, the UK's FTSE 100 was up 1.6%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.

In equities, Philip Morris shares were up 9% pre-bell. Lipella Pharmaceuticals (LIPO) stock was 158% higher after the company said it received a US Food and Drug Administration approval for an expanded access program for LP-310, an oral rinse formulation designed to treat oral lichen planus.

On the losing side, Skyworks Solutions (SWKS) shares were down 26% after the company overnight reported lower fiscal Q1 adjusted net income and revenue. Matrix Service Company (MTRX) stock was nearly 18% lower, a day after the company posted a wider fiscal Q2 loss. Roblox (RBLX) shares were down 18% after the company reported Q4 revenue that trailed analysts' estimates.