U.S. government debt prices were slightly higher, with investors monitoring ongoing U.S.-Sino trade developments and an upcoming European Central Bank meeting.
The yield on the benchmark 10-year Treasury note sank to 2.688 percent, while the yield on the 30-year Treasury bond was barely lower at 3.069 percent. Bond yields move inversely to prices.
Investors are eager to know details from trade negotiations between the U.S. and China. Data out on Wednesday showed that the U.S. trade deficit remains a problem.
President Donald Trump has imposed a series of tariffs on countries like China, in an attempt to bring down his country's trade deficit. However, Wednesday's data showed that trade deficit in the U.S. hit a 10-year high in December.
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As trade talks between the world's largest economies continue, there's fresh tensions regarding Chinese tech giant Huawei. The firm filed a lawsuit against the U.S. government, claiming a law that bans it from selling equipment to government agencies is unconstitutional.
In central bank news, ECB policymakers meet in Frankfurt on Thursday, where they are due to make their latest monetary policy decision. The ECB is expected to keep interest rates unchanged, but all eyes will be on President Mario Draghi's press conference on the back of concerns of a slowdown in Europe.
On the economic front, there will be jobless claims and unit labour costs due at 8.30 a.m. ET; and consumer credit numbers released at 3 p.m. ET.
Meanwhile, the Treasury is set to auction $60 billion in four-week bills and $35 billion in eight week bills later on Thursday.
- CNBC's Silvia Amaro contributed to this report.
