Stock futures bounce Thursday as investors shake off Russia-Ukraine, Fed concerns

Stock futures rose early Thursday morning as investors tried to recover from declines in Wednesday's regular trading session.

Dow Jones Industrial Average futures climbed 170 points, or 0.5%. S&P 500 added 0.6% and Nasdaq 100 futures rose 0.7% each.

Streaming service Spotify rose 3.7% in early morning trading, as Google said it will allow the streaming platform to offer its own billing on Android devices.

Olive Garden parent company Darden Restaurants saw shares dip 2% in premarket trading after a weaker-than-expected earnings report before the bell Thursday. KB Home dropped 3.8% after an earnings miss Wednesday.

The moves Thursday come as NATO leaders meet in Brussels to discuss putting more pressure on Russia, as Ukraine appears to be retaking ground in the war. Oil prices also declined slightly, with U.S. crude trading 0.5% lower at $114.35 per barrel.

The major averages took a breather Wednesday, as higher oil and commodities prices and the likelihood of greater interest rate hikes have investors uncertain about the economic outlook for later this year.

The Dow Jones Industrial Average dropped about 450 points, or 1.3%. The S&P 500 declined 1.2%. The Nasdaq Composite dipped 1.3%.

"The idea of having a soft landing was always going to be really challenging, and when you think about the additional wrinkle of a complication of Russia invasion of the past month, and the surge in commodity prices, it makes it super difficult for Fed to calibrate," Michael Schumacher, head of macro strategy at Wells Fargo Securities, said on CNBC's "Fast Money" on Wednesday.

On the data front Thursday, weekly jobs claims data and durable goods orders will be released at 8:30 a.m.