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NEW YORK (CNNMoney)
The Federal Reserve rejected Citigroup's (C, Fortune 500) capital plan Wednesday, saying it was troubled by the bank's inability to predict how much it could lose in a severe economic downturn. It banned the bank from any dividend hikes or share repurchases for the next year.
Citi was among 30 large banks required to submit capital plans for an annual stress tests. The Fed approved 25 plans. Citi and four other banks faced rejections.
Trading volume could also be higher than normal in Bank of America (BAC, Fortune 500) shares after the firm announced first quarter earnings would take a hit due to a $9.5 billion settlement with the Federal Housing Finance Agency. The deal settles all litigation between Bank of America and the agency over mortgage-backed securities.
Aside from the banks, U.S. stock futures were looking firm ahead of the opening bell.
Related: Fear & Greed Index
Investors are waiting on the U.S. government to report initial jobless claims at 8:30 a.m. ET. The final estimate of fourth quarter GDP will be released at the same time.
On the earnings front, Lululemon (LULU), Accenture (ACN), and Gamestop (GME, Fortune 500) will report earnings before the opening bell.
Investors will also be watching King Digital Entertainment (KING). Shares in the maker of online game Candy Crush Saga took a beating after going public Wednesday.
Related: CNNMoney's Tech30
U.S. stocks ended lower Wednesday. The Nasdaq fell more than 1% and the Dow Jones industrial average and S&P 500 also closed in the red.
European markets were all declining in Thursday morning trading.
Asian markets ended with mixed results.
Shares in tech company Tencent (TCEHY) in Hong Kong fell by nearly 6%, leading Asian Internet companies lower. Investors and traders have been growing concerned that valuations have become too rich in the Asian tech, media and telecommunications sector. 
First Published: March 27, 2014: 6:09 AM ET
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