* Dow Jones futures DJc1 and S&P 500 futures SPc1 rose 0.5 and 0.7 percent respectively on Thursday, suggesting scope for a recovery after Wednesday's losses. But Nasdaq futures NDc1 were down 0.3 percent. * The U.S. administration is weighing a roughly $40 billion proposal to help forestall housing foreclosures, the Wall Street Journal reported. [ID:nBNG389655] * After Wednesday's close, Amgen Inc (AMGN.O: Quote, Profile, Research, Stock Buzz) shares jumped 7.5 percent to $53.40 when the biotech company reported quarterly earnings, while Amazon.com (AMZN.O: Quote, Profile, Research, Stock Buzz) fell 13.4 percent and traded 13 percent lower in Frankfurt (AMZN.F: Quote, Profile, Research, Stock Buzz) after the online retailer's fourth-quarter revenue expectations fell short of analyst expectations. * U.S. stocks tumbled to 5-year lows on Wednesday as investors grappled with an increasingly dire outlook for the global economy following a raft of disappointing profits and outlooks for major U.S. companies. * Major S&P 500 .SPX companies due to release earnings on Thursday include Microsoft (MSFT.O: Quote, Profile, Research, Stock Buzz), Bristol-Myers Squibb (BMY.N: Quote, Profile, Research, Stock Buzz), Dow Chemical Co. (DOW.N: Quote, Profile, Research, Stock Buzz), Eli Lilly (LLY.N: Quote, Profile, Research, Stock Buzz) and United Parcel Service (UPS.N: Quote, Profile, Research, Stock Buzz). * The Federal Reserve's Consumer Advisory Council meets at 1300 GMT to discuss the Housing and Economic Recovery Act of 2008, and former Fed Chairman Alan Greenspan testifies in Congress at 1400 GMT on "The Role of Federal Regulators". * Economic data: jobless claims at 1430 GMT. G7TODAY (Reporting by Tyler Sitte; Editing by Quentin Bryar)

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