Stock market today: US futures slip as Micron slides, with data on deck

A reading on initial weekly jobless claims came in at 233,000, a decrease of 6,000 from the previous week, according to Department of Labor data. The print came in below a consensus expectation of 235,000. However, recurring jobless claims rose to their highest since late 2021, suggesting it's taking longer for unemployed people to find a job. Real gross domestic product (GDP) increased at an annual rate of 1.4% in the first quarter of 2024, according to the third estimate by the Bureau of Economic Development released on Thursday morning. The print was slightly higher than the prior estimate of 1.3%.

Inflation may be a key topic in the Biden-Trump debate as it has been a significant concern for Americans recently. Both candidates have different approaches to tackling the issue, and their respective records on handling the economy could be a crucial factor in voters' decisions. Additionally, the Federal Reserve's policy, influenced by inflation readings, plays a role in shaping the economic landscape, making it a relevant topic for discussion.