U.S. Stock Futures Pare Gains on Eurozone Summit Fears

U.S. stock futures pared gains Thursday morning on a report that the German government will not rule out postponing the upcoming EU weekend summit.

Futures on the S&P 500 are flat at 9:23 a.m. ET, futures on the Dow Jones Industrial Average fell 0.04 percent, and futures on the Nasdaq 100 declined 0.24 percent.

The German government is not ruling out the postponing of the upcoming weekend Eurozone summit, according to FxWire Pro, citing a German paper, which quoted government and coalition sources.

The market has placed high hopes on the summit, hoping that it will produce a grand plan to bail out Europe.

Earlier, a Reuters report that the Eurozone rescue fund guidelines allowed the fund to purchase sovereign debt on the secondary market gave the market a slight boost.

U.S. weekly initial jobless claims came in above expectations. On the earnings front, the tech sector continued to disappointment as eBay (NASDAQ:EBAY) met analysts' expectations but missed the market's expectations.

AT&T (NYSE:T) similarly reported mediocre results.

Shares of eBay and AT&T are down 4.76 percent and 1.17 percent, respectively, in pre-market trading.