US stock futures were mixed on Thursday after a government release showed that real gross domestic product fell at a 1% annualized rate in the second quarter.

Earlier, at 8:36 am ET, the S&P 500 futures fell 0.60 points to 1026.70. The Dow Jones Industrial Average futures dropped 3 points to 9523. The Nasdaq Composite futures climbed 1.25 points to 1637.75.

The Commerce Department said Thursday that real gross domestic product fell at a 1% annualized rate in the second quarter, after plunging 6.4% in the previous quarter. Economists expected a decline of 1.5%.

A release by Department of Labor on Thursday showed number of Americans filing first- time claims for unemployment benefits fell 10,000 to 570,00 in the week ending August 22. Economists expected jobless claims to drop to 565,000. The four-week average of seasonally adjusted initial jobless claims, a less volatile gauge, decreased 4,750 to 566,250.  Continuing claims for the week ending August 15 dropped 119,000 to 6.13 million.

Early on Thursday, Toll Brothers Inc. (NYSE: TOL) said that its fiscal third quarter net loss widened to $472.3 million, or $2.93 a share in the three months ended July 31. That compares with a loss of $29.3 million, or 18 cents a share, the same quarter last year. The homebuilder sold 792 homes with revenue totaling $461.4 million.

Teen clothing retailer American Eagle Outfitters Inc. (NYSE: AEO) reported that its second-quarter profit dropped to $28.6 million, or 14 cents a share, from $59.8 million, or 29 cents, in the prior year period. Quarterly revenue declined 5% to $657.6.

Meanwhile, Microsoft Corp.(NASDAQ: MSFT) announced that it will slash the price of its top-end Xbox 360 Elite games console by $100 to $299.99, starting Friday. It will also cut the price of its Xbox 360 Pro console by $50 to $249.99, while supplies last.

Late on Wednesday, Guess Inc. (NYSE: GES) reported that its second-quarter net income attributable to the company increased 11% to $59.6 million, from $53.8 million, or 56 cents per share, in the comparable quarter last year. Revenue climbed 1.4% to $522.4 million.

The second largest pc maker Dell Inc (NASDAQ: DELL) is scheduled to report quarterly results after the closing bell on Thursday.

US stocks mustered only tiny gains on Wednesday, despite stronger-than-expected durable goods and housing data.

European stocks retreated in afternoon trade. At 12:18 pm London time, the UK FTSE fell 9.82 points or 0.20% to 4,880.76. The German DAX and French CAC decreased 0.63% and 0.07% respectively.

Asian stocks finished with losses. The Nikkei 225 slumped 165.74 points or 1.56% to 10,473.97. The Hang Seng index of Hong Kong dropped 213.57 points or 1.04% to 20,242.75.

NYMEX crude oil for October delivery declined as much as 53 cents or 0.7% to $70.90 a barrel in electronic trading.

Disclosure: Author doesn’t own any of the stocks mentioned here.