On the data front, initial job claims will be released at 8:30 a.m. ET.

Dallas Fed President Robert Kaplan will give a speech at 10 a.m. ET. An hour later, the Federal Reserve Bank of New York will release its second-quarter Household Debt and Credit Report.

The Treasury is set to auction on Thursday $30 billion in 4-week bills and $35 billion in 8-week bills.