Dow futures tick higher, Cisco lifts 2.2% after earnings

Investing.com - U.S. stock futures were trading in a tight range during Wednesday's evening deals, following a negative session among major benchmark averages as market participants assessed the growing possibility of further interest rate increases from Federal Reserve policymakers.

By 19:25 ET (23:35 GMT), Dow Jones futures were 0.1% higher while S&P 500 futures and Nasdaq 100 futures were flat.

In extended deals, Cisco Systems Inc (NASDAQ:CSCO) added  2.2% after reporting EPS of $1.14 versus $1.06 expected, while revenues were reported at $15.2 billion, exceeding expectations of $15.05B.

Synopsys Inc (NASDAQ:SNPS) added 1.6% after reporting quarterly EPS of $2.88 versus $2.74 expected on revenues of $1.49B versus $1.48B expected.

Avnet Inc (NASDAQ:AVT) added 6.8% after reporting Q4 EPS of $2.06 versus $1.65 expected, while revenue came in at $6.6B versus $6.27B. Avnet sees Q1 2024 EPS of $1.45-$1.55. Avnet sees Q1 2024 revenue of $6.15B-$6.45B expected.

Wolfspeed Inc (NYSE:WOLF) shed 14.4% after reporting Q4 losses of $0.42 per share versus expected losses of $0.20 per share, while revenues came in at $235.8 million versus $224.53M.

Paycor HCM Inc (NASDAQ:PYCR) dipped 6%, reporting Q4 EPS of $0.08 versus $0.05 expected on revenues of $140M versus $136.51M expected.

Ahead in Thursday's trade, investors will be looking towards weekly jobless claims, the Philadelphia Fed manufacturing index and the Fed's balance sheet, as well as earnings results from Walmart Inc (NYSE:WMT), Applied Materials Inc (NASDAQ:AMAT), Ross Stores Inc (NASDAQ:ROST), Tapestry Inc (NYSE:TPR) and Lenovo Group (OTC:LNVGY) Ltd (OTC:LNVGF).

During Wednesday's regular session, the Dow Jones Industrial Average fell 180.7 points or 0.5% to 34,765.7, the S&P 500 lost 33.5 points or 0.8% to 4,404.3, and the Nasdaq Composite lost 156.4 points or 1.2% to 13,474.6.

On the bond markets, United States 10-Year rates were nearing fresh 16-year highs of 4.258%.