U.S. Stocks May See Initial Strength Amid Steep Drop In Crude Oil Prices

Following the mixed performance seen in the previous session, stocks may move to the upside in early trading on Thursday. The major index futures are currently pointing to a modestly higher open for the markets, with the S&P 500 futures up by 0.2 percent.

Early buying interest may be generated in reaction to a steep drop by the price of crude oil, as U.S. crude oil futures plunge by 2.3 percent.

The slump in crude oil prices comes as worries about the outlook for demand are overshadowing the supply concerns raised by the ongoing conflict in the Middle East.