The Fed's Monetary Policy announcement, the Weekly jobless claims, and third quarter Labor Productivity and Costs are the major announcements on Thursday.

Investors are keenly waiting for the U.S. President elected Donald Trump's new strategic announcements. The geopolitical situation might have an impact as Trump comes to power January.

In the Asian trading session, oil prices fluctuated, while gold regained.

Early trends on the U.S. Futures Index suggest that Wall Street might open higher.

As of 7.30 am ET, the Dow futures were up 77.00 points, the S&P 500 futures were adding 14.50 points and the Nasdaq 100 futures were progressing 77.25 points.

The U.S. major averages closed at new highs on Wednesday. The Dow soared 1,508.05 points or 3.6 percent to 43,729.93, the Nasdaq surged 544.29 points or 3.0 percent to 18,983.47 and the S&P 500 shot up 146.28 points or 2.5 percent to 5,929.04.

On the economic front, the U.S. Labor Department's Jobless Claims for the week will be published at 8.30 am ET. The consensus is for 221K, while it was up 216K in the prior week.

The Productivity and Costs Index for the third quarter is scheduled at 8.30 am ET. The consensus is for an increase of 2.5 percent, while it was up 2.5 percent in the prior quarter.

The Wholesale Inventories (Preliminary) for September will be released at 10.00 am ET. In the prior month, the inventories were up 0.1 percent.

The Energy Information Administration or EIA for the week will be revealed at 10.30 am ET. In the prior week, the gas stock was up 78 bcf.

The Federal Open Market Committee or FOMC meeting policy announcement is expected at 2.00 pm ET. The consensus is for a cut of 25 basis points, while in the prior change there was a reduction of 50 basis points.

The Fed Consumer Credit for September will be released at 3.00 pm ET. The consensus is for a positive $12 billion, while it was positive $8.9 billion last month.

The Fed Balance Sheet for the week will be published at 4.30 pm ET. In the prior week, the Level was at $7.013 trillion.

Asian stocks ended mixed on Thursday. China's Shanghai Composite index jumped 2.57 percent to 3,470.66.

Hong Kong's Hang Seng index rallied 2 percent to 20,953.34.

Japanese markets ended mixed. The Nikkei average dipped 0.25 percent to 39,381.41. The broader Topix index settled 1 percent higher at 2,743.08.

Australian markets eked out modest gains. The benchmark S&P/ASX 200 rose 0.33 percent to 8,226.30 while the broader All Ordinaries index closed 0.30 percent higher at 8,481.60.

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