By Alexandra Gibbs, CNBC–

U.S. stock index futures pointed in different directions ahead of Thursday’s open, as investors shifted their attention to the corporate space.

Around 5:00 a.m. ET, Dow futures rose 22 points, indicating a positive open of 31.90 points, while S&P 500 futures indicated a relatively subdued start to its session. The tech-heavy Nasdaq however pointed to sharp losses at the open, indicating losses of 116.59 points.

Tech stocks are expected to slip during the course of Thursday’s session after social media giant Facebook published quarterly results that underwhelmed investors. Reporting earnings after the bell, Facebook saw its global daily active users and revenue fail to hit market forecasts. Shares fell more than 20 percent in after hours trading, with the group saying it expected revenue growth rates to be lower than the year before, particularly in the second half of 2018.

The results come just months after the company was seen dealing with data breaches and scandals concerning fake news. Consequently, investors will be paying close attention to technology stocks on Thursday, to see how they react to Facebook’s latest update.

Switching focus to what’s coming up in today’s session, even more big names are set to issue financial results. Out of the slew set to report, Allergan, Bristol-Myers Squibb, Comcast, Mastercard, McDonald’s, American Airlines Group, Hershey and Under Armour are expected to issue their earnings before the bell.

Meantime, Amazon.com, Intel, Starbucks, Chipotle Mexican Grill, Discover Financial, Electronic Arts, and Expedia will report after the bell.

On the data front, jobless claims, and advance economic indicators are due out at 8:30 a.m. ET, followed by the Kansas City Fed’s manufacturing survey at 11 a.m. ET.

This comes a day before U.S. gross domestic product data is due.

While concerns surrounding Facebook may weigh on investor sentiment, market anxiety regarding trade has softened somewhat in the past 24 hours. On Wednesday, President Donald Trump announced that the U.S. and the European Union had initiated a “new phase” within their relationship, explaining how both regions would start collaborating in order to lower tariffs and avoid a potential trade war.

“We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods,” Trump said at a press conference with European Commission President Jean-Claude Juncker. The U.S. leader however did not comment on whether carmaker tariffs had been dealt with; meaning, automakers will be in focus on Thursday. Trade concerns surrounding China however still remain tense.

While no speeches by the U.S. Federal Reserve are expected today, the European Central Bank will have its latest monetary policy meeting. Any central banking decisions will be announced before the opening bell.

—CNBC’s Michelle Castillo contributed to this report