Despite weaker-than-expected PPI statistics, investor optimism kept US stock futures trading marginally lower on Wednesday night. As of 6:35 p.m. ET (11:35 p.m. GMT), Nasdaq 100 Futures had dropped 0.2%, while Dow Jones and S&P 500 Futures had each dropped 0.1%. Cisco Systems Inc. (NASDAQ:CSCO) fell 10.7% in after-hours trading after revealing EPS of $1.11 …
Despite weaker-than-expected PPI statistics, investor optimism kept US stock futures trading marginally lower on Wednesday night. As of 6:35 p.m. ET (11:35 p.m. GMT), Nasdaq 100 Futures had dropped 0.2%, while Dow Jones and S&P 500 Futures had each dropped 0.1%. Cisco Systems Inc. (NASDAQ:CSCO) fell 10.7% in after-hours trading after revealing EPS of $1.11 compared to $1.03 projected on revenues of $14.7 billion versus $14.62 billion anticipated. After reporting EPS of $1.38 versus $1.16 expected on revenues of $1.9 billion versus $1.84 billion expected, Palo Alto Networks Inc. (NASDAQ:PANW) saw a 5.2% decline in value. Tetra Tech Inc. (NASDAQ:TTEK) reported 1.1% higher earnings per share (EPS) of $1.78 against $1.44 projected, on $1.26 billion in revenues as opposed to $1.01 billion. Market participants will be keeping an eye on the NAHB housing market index, industrial production, unemployment claims, import and export price indices, and speeches by Barr, Williams, Kroszner, and Mester ahead of Thursday’s session. The Dow Jones Industrial Average gained more than 160 points and had its fourth straight winning session during Wednesday’s normal trading. The gain was around 0.5%. Additionally, there were gains of roughly 0.2% and 0.1% for the NASDAQ Composite and S&P 500, respectively. On Thursday, investors will also be closely observing the retail businesses’ earnings results, which are anticipated to be released before the bell by Macy’s Inc. (NYSE:M), Walmart Inc. (NYSE:WMT), and Gap Inc. (NYSE:GPS) after the market closes. In terms of data, the wholesale price index, or producer price index, fell 0.5% in October, which was the largest monthly reduction since April 2020. The 10-year Treasury bond rate on the market was 4.537%.
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