Futures higher, Berkshire Hathaway slashes Apple stake - what's moving markets

investing.com:

Investing.com -- U.S. stock futures inch higher, pointing to a continued recovery on Wall Street from a decline posted earlier this week. Cisco Systems (NASDAQ:CSCO) lowers its annual guidance and outlines plans to slash headcount, as executives at the network equipment manufacturer warn of weak future demand. Elsewhere, Warren Buffett's Berkshire Hathaway (NYSE:BRKa) cuts its stake in tech giant Apple (NASDAQ:AAPL).

1. Futures edge up

U.S. stock futures gained on Thursday, after equities rebounded in the prior session from a dip earlier in the week.

By 04:00 ET (09:00 GMT), the S&P 500 futures contract had gained 11 points or 0.2%, Nasdaq 100 futures had added 35 points or 0.2%, and Dow futures had risen by 82 points or 0.2%.

The main indices on Wall Street gained on Wednesday, partially recovering from a drop on Tuesday sparked by hotter-than-expected U.S. inflation figures that led markets to push back their bets for the timing of potential Federal Reserve interest rate cuts. The benchmark S&P 500 rose by 1.0%, the tech-heavy Nasdaq Composite advanced by 1.3%, and the blue-chip Dow Jones Industrial Average climbed by 0.4%.

Artificial intelligence chipmaker Nvidia (NASDAQ:NVDA) jumped ahead of its much-anticipated quarterly results next week, surpassing Google-owner Alphabet (NASDAQ:GOOGL) as the U.S. stock market's third-most valuable company. Ride-hailing group Lyft (NASDAQ:LYFT) also surged by more than 30% thanks to a bullish annual free cash flow outlook and better-than-projected profit, while rival Uber (NYSE:UBER) soared on a new $7 billion share buyback plan.

2. Cisco Systems slashes guidance, unveils plans to cut workforce

Cisco Systems reduced its full-year guidance and detailed plans to cut its global