US stock futures changed little
Istanbul, February 12 (Hibya) - In the US, stock futures tied to the Dow Jones Industrial Average changed little late Wednesday after the blue-chip index ended its three-day winning streak.
Dow futures fell by 22 points or 0.04%. S&P 500 futures lost 0.06%, while Nasdaq 100 futures dropped by 0.2%.
Cisco Systems, the network hardware manufacturer known for routers and switches, lost 7% in extended trading after issuing a disappointing forecast for the current quarter. McDonald's saw a slight drop of less than 1% despite its earnings surpassing expectations.
These moves followed a negative trading day on Wall Street, where the 30-stock Dow lost more than 66 points, or 0.1%, and the Nasdaq Composite fell by about 0.2%. The S&P 500 ended the day with a slight decline.
Stocks closed lower after rising following the unemployment data. The January nonfarm payroll report showed a sharp increase of 130,000 jobs last month. This figure far exceeded economists' expectations and the downwardly revised December figure. The unemployment rate fell from 4.4% to 4.3%.
However, the strong jobs report also clouds the Federal Reserve's (Fed) rate outlook, and if inflation remains high, it could mean fewer rate cuts than investors expect. This highlights the importance of the Consumer Price Index (CPI) report on Friday, which may indicate what the Fed needs to balance its dual mandate. More labor market data, along with the latest weekly jobless claims figures, will be released Thursday morning. Existing home sales data will also be published.
Usa News Agency
