Here are 10 things you should know for Thursday, May 5:
1. -- U.S. stock futures were rising Thursday after two days of losses and European stocks gained as oil prices moved higher.
Oil prices in the U.S. early Thursday rose almost 3% to $45.08 a barrel.
Asian shares ended Thursday's session mixed. The Shanghai Composite Index rose 0.2%.
2. -- The economic calendar in the U.S. Thursday includes weekly Initial Jobless Claims at 8:30 a.m. EDT.
3. -- U.S. stocks on Wednesday declined for a second day as investors fretted over an oil supply glut and the potential for a disappointing jobs report on Friday.
The S&P 500 fell 0.6%, the Dow Jones Industrial Average fell 0.56%, and the Nasdaq slid 0.79%. The Nasdaq was down for the ninth time in 10 sessions, while the S&P 500 and Dow were down for the fourth time in five.
4. -- Tesla Motors (TSLA - Get Report) bumped up its production forecast, saying strong demand for its lower price Model 3 will allow it to produce 500,000 cars a year starting in 2018, two years ahead of schedule.
Just two years later, in 2020, CEO Elon Musk said Tesla likely will be pumping out 1 million electric cars annually after producing between 80,000 and 90,000 this year.
The stock was rising 3.8% in premarket trading on Thursday.
The production increase, however, also will require the company to dole out $2.25 billion this year to expand capacity, $750 million more than previously thought.
"It's going to make sense for us to raise some amount of money -- some combination of equity and debt -- and make sure the company has some good buffer of cash on hand," Musk said during the company's earnings call.
Tesla posted Wednesday an adjusted first-quarter loss of 57 cents a share, compared to analysts' expectations for a loss of 58 cents. Revenue rose by 45% year over year to $1.6 billion, in line with analysts' estimates.
The Chicago company, which rejected an offer valued at $815 million, posted a loss of $6 million in the quarter, a year after posting a gain of $2.5 million. The decline came as advertising revenue slid at newspapers that include the Los Angeles Times, Chicago Tribune and Orlando Sun-Sentinel.
Ad sales dropped 4.4% to $215 million, illustrating the continuing struggles Tribune Publishing has had in stabilizing the company in the face of a decade-long decline in revenue from its print publications. Digital revenue in the quarter rose 15% to $55 million.
The results seemed certain to intensify calls from shareholders that Chairman Michael Ferro abandon any of his own reorganization plans in favor of a sale to Gannett, owner of USA Today and more than 100 U.S. newspapers.
6. -- Ohio Gov. John Kasich, the last man standing in Donald Trump's path to the Republican nomination, ended his campaign Wednesday, making Trump the party's presumptive nominee.
Speaking to reporters in Columbus, Ohio, Kasich didn't outline his reasons for ending his bid or mention Trump. Instead, he offered an emotional recount of his exchanges with voters and renewed his call for Americans to spend more time helping one another.
Despite his inability to win any contests beyond Ohio, Kasich held on to become the last candidate battling Trump -- but only for a few hours. His decision to end his campaign came a day after his other remaining rival, Texas Sen. Ted Cruz, announced that he was suspending his campaign.
7. -- Whole Foods (WFM) , the organic grocer, still isn't gaining much traction with consumers.
The organic grocer reported fiscal second-quarter earnings of 44 cents a share, beating analysts' estimates of 41 cents, in large part due to cost cuts and continued aggressive share repurchases. Total revenue came in at $3.7 billion, short of Wall Street's estimates for $3.74 billion.
Whole Foods said same-store sales fell 3% in the quarter. The result worsened from the first three weeks of the quarter when Whole Foods said its sales were down about 2.8%. Even as it continued to lower prices on consumer staples, Whole Foods saw the number of transactions decline 2.1% in the quarter -- in the first quarter, transactions declined 0.8%.
Fitbit had revenue of $505.4 million in the period, also topping forecasts.
For the current quarter ending in July, the company said it expects per-share earnings to range from 8 cents to 11 cents. Revenue is expected in the range of $565 million to $585 million for the fiscal second quarter.
Analysts were expecting earnings of 62 cents a share on revenue of $6.47 billion.
"We are certainly excited, albeit surprised, by the company's ability to deliver both higher-than-expected sales (driven by impressive pricing and volume growth) and powerful margin expansion (thanks to significant cost savings related to the ongoing integration of Kraft and Heinz),' said Jim Cramer and Jack Mohr of Action Alerts PLUS, which owns Kraft Heinz. "KHC's powerful operational leverage was on full display this quarter, with adjusted EBITDA growing 21% year over year to $1.95 billion, well above consensus estimates for 8% growth to $1.74 billion."
10. -- Earnings are expected Thursday from Alibaba (BABA - Get Report) , Avon Products (AVP - Get Report) , GoPro (GPRO - Get Report) , Activision Blizzard (ATVI - Get Report) , Square (SQ - Get Report) , AMC Networks (AMCX - Get Report) and Yelp (YELP - Get Report) .