Dow futures dip, Cisco sheds 10.7% after earnings
Investing.com — US stock futures were trading slightly lower on Wednesday night as investor optimism remained strong amid weaker than expected PPI data.
By 6:35 pm ET (11:35 pm GMT) Dow Jones Futures and S&P 500 Futures declined 0.1% apiece while Nasdaq 100 Futures fell 0.2%.
In after-hours trading, Cisco Systems Inc (NASDAQ:CSCO) plunged 10.7% after reporting EPS of $1.11 versus $1.03 expected on revenues of $14.7 billion versus $14.62 billion expected.
Palo Alto Networks Inc (NASDAQ:PANW) dropped 5.2% after the company reported EPS of $1.38 versus $1.16 expected on revenues of $1.9 billion versus $1.84 billion expected.
Tetra Tech Inc (NASDAQ:TTEK) was 1.1% higher, reporting EPS of $1.78 versus $1.44 expected on revenues of $1.26 billion versus $1.01 billion expected.
Ahead in Thursday's trade, market participants will be monitoring import and export price indexes, jobless claims, industrial production and the NAHB housing market index as well as speeches from Barr, Williams, Kroszner and Mester.
During Wednesday's regular trade, the Dow Jones Industrial Average posted its fourth consecutive winning session with a gain of around 0.5%, adding more than 160 points. The S&P 500 and NASDAQ Composite also saw increases of about 0.2% and 0.1%, respectively.
Investors will also be keenly watching for earnings reports from retail companies due on Thursday, with Macy’s Inc (NYSE:M) and Walmart Inc (NYSE:WMT) expected to report before the bell, and Gap Inc (NYSE:GPS) after the market closes.
On the data front, the producer price index for October, a measure of wholesale prices, saw a decline of 0.5%, marking its most significant monthly drop since April 2020.
On the bond markets, United States 10-Year rates were at 4.537%.
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