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Dow futures steady; Cisco, Occidental report earnings
Investing.com - Wall Street's stock futures remained largely stagnant on Wednesday evening as the market seeks to build on a moderate recovery ahead of closely watched retails sales and jobless claims data.
By 6:50 pm ET (11:50 pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each trading in a steady range.
Earnings season continues to offer a mixed view of the corporate landscape in America. Cisco (NASDAQ:CSCO) dropped 5.4% in extended trading after the tech company reported EPS of $0.87 versus $0.84 expected on revenues of $12.8 billion versus $12.71 billion expected. The company also announced layoffs and weak forward sales projections
Occidental Petroleum Corporation (NYSE:OXY) was up by 0.2% after reporting EPS of $0.74 versus $0.68 expected, while revenues came in at $7.17 billion versus $6.93 billion expected.
Equinix Inc (NASDAQ:EQIX) added 0.4% after reporting EPS of $2.4 versus $2.16 expected, while revenues came in at $2.11 billion, in line with expectations.
Ahead in Thursday's trade, Fast-food chain Shake Shack Inc (NYSE:SHAK) is set to release its earnings report before the bell on Thursday.
Investors are also anticipating another update on the US with the release of January retail sales data and weekly unemployment claims data ahead of Wall Street's opening bell.
The stock market experienced a rally on Wednesday, although it failed to fully recover from Tuesday's losses, which were triggered by an unexpectedly high inflation report. The Dow Jones Industrial Average added 151.5 points or 0.4% to 38,414.3, the S&P 500 added 47.5 points or 1% to 5,000.6 and the NASDAQ Composite lifted 203.6 points or 1.3% to 15,859.2.
On the bond markets, United States 10-Year rates were at 4.258%.
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