1. Stock futures are fixed

Traders on the floor of the NYSE, August 1, 2022. Source: NYSE

2. Walmart lays off corporate employees

A shopping cart outside a Walmart store in Torrance, California, U.S., Sunday, May 15, 2022. Walmart Inc. is scheduled to report earnings on May 17. Bing Guan | Bloomberg | Getty Images Walmart, the largest private employer in the US, has begun laying off corporate workers. The decision, which the company confirmed Wednesday, came just over a week after the Arkansas-based retail giant cut its full-year earnings outlook and warned of the impact of inflation on discretionary spending. “Shoppers are changing. Customers are changing,” Walmart spokeswoman Anne Hatfield told CNBC’s Melissa Repko on Wednesday. “We’re doing some restructuring to make sure we’re aligned.” Read the full CNBC story here.

3. Oil is fluctuating after settling near 6 month lows

Oil pumps are seen on the Inglewood tanker in Los Angeles, California. Oil prices fell early on Monday as investors braced for a meeting of officials from OPEC and other top producers this week on supply adjustments. Mario Tama | News Getty Images | Getty Images Oil bounced between gains and losses on Thursday morning, a day after crude futures for both the US and international benchmarks fell nearly 4% to their lowest levels since February. The move came as OPEC and its oil-producing allies said they would raise output by only 100,000 barrels a day in September. An unexpected increase in US crude and gasoline inventories also weighed on energy markets in Wednesday’s session. On Thursday morning, West Texas Intermediate futures traded as high as $90.15 a barrel.

4. Alibaba shares gain after earnings slip

A growing number of Asian companies have announced share buybacks in recent weeks. Chinese internet giant Alibaba said it will increase its share buyback program from $15 billion to $25 billion. Sheldon Cooper, SOPA Images | LightRocket | Getty Images

5. The Bank of England raises interest rates by half a percentage point

General view of the Royal Exchange, the Bank of England and the City of London on a cloudy day. Vuk Valcic | SOPA Images | LightRocket | Getty Images The Bank of England raised interest rates by 50 basis points on Thursday, the biggest increase in one session in 27 years, as the UK central bank tries to curb inflationary pressures. In particular, the Bank of England now predicts that the country’s economy will enter a recession in the fourth quarter of 2022 that could last more than a year. He expects headline inflation to peak in October at 13.3% and remain above the 2% target through 2025. Read the full story from CNBC’s Elliott Smith here. — Join the CNBC Investing Club now to follow Jim Cramer’s every stock move. Follow the broader market action like a pro on CNBC Pro.