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) and declined 0.1% apiece while fell 0.2%.

In after-hours trading, Cisco Systems Inc (NASDAQ:) plunged 10.7% after EPS of $1.11 versus $1.03 expected on revenues of $14.7 billion versus $14.62 billion expected.

Palo Alto Networks Inc (NASDAQ:) dropped 5.2% after the company EPS of $1.38 versus $1.16 expected on revenues of $1.9 billion versus $1.84 billion expected.

Tetra Tech Inc (NASDAQ:) was 1.1% higher, 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 and price indexes, , and the as well as speeches from , , and .

During Wednesday’s regular trade, the posted its fourth consecutive winning session with a gain of around 0.5%, adding more than 160 points. The and 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:) and Walmart Inc (NYSE:) expected to report before the bell, and Gap Inc (NYSE:) after the market closes.

On the data front, the 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, rates were at 4.537%.