Investing.com – U.S. stock futures pointed to a broadly lower open on Thursday, as shares in the commodity sector performed poorly, while downbeat earnings results from Cisco weighed on shares in the technology sector.
Dow Jones Industrial Average futures pointed a decline of 0.45%, the S&P 500 futures shed 0.55%, while Nasdaq 100 futures shed 0.5%.
The world’s largest maker of computer-networking equipment Cisco Systems tumbled 4.95% in pre-market trade after it lowered its full-year earnings outlook and laid out plans for global job cuts as it struggled to revive growth.
Meanwhile, oil and metal prices were broadly lower on Thursday, extending sharp losses from the previous session, after China raised reserve requirements for the fifth time in 2011 in an effort to curb inflation.
Gold producer Barrick Gold saw shares fall 1.7%, Pan American Silver sank 2.35%, while oil and gas giant Exxon-Mobil declined 1%.
Shares in car-sharing service Zipcar, which made its debut on the Nasdaq Exchange on April 14, slumped 1% after it reported a first quarter loss of USD6.1 million, compared with a loss of USD5.3 million a year earlier. The company forecast a loss of USD17 million for the full-year.
On the upside, department store retailer Kohl’s saw shares climb 1.1% after reporting a 5.5% increase in first quarter earnings to USD211 million, driven in part by its e-commerce division.
Other retailers could be active as the U.S. Census Bureau was to release retail sales data for April later in the day.
After Thursday’s closing bell, chip-maker Nvidia and clothing retailer Nordstrom were to release earnings results.
Across the Atlantic, European stock markets posted sharp losses as tumbling commodity prices weighed on mining shares. The EURO STOXX 50 slumped 1.35%, France’s CAC 40 fell 1.4%, Germany's DAX plunged 1.45%, while Britain's FTSE 100 sank 1.15%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1.5% lower, while Hong Kong’s Hang Seng Index declined 0.95% amid concerns over further monetary tightening by China.
Later in the day, the U.S. was to publish a report on initial jobless claims as well as official data on producer price inflation and retail sales. In addition, Federal Reserve Chairman Ben Bernanke was to testify before the Senate Banking Committee in Washington.
Dow Jones Industrial Average futures pointed a decline of 0.45%, the S&P 500 futures shed 0.55%, while Nasdaq 100 futures shed 0.5%.
The world’s largest maker of computer-networking equipment Cisco Systems tumbled 4.95% in pre-market trade after it lowered its full-year earnings outlook and laid out plans for global job cuts as it struggled to revive growth.
Meanwhile, oil and metal prices were broadly lower on Thursday, extending sharp losses from the previous session, after China raised reserve requirements for the fifth time in 2011 in an effort to curb inflation.
Gold producer Barrick Gold saw shares fall 1.7%, Pan American Silver sank 2.35%, while oil and gas giant Exxon-Mobil declined 1%.
Shares in car-sharing service Zipcar, which made its debut on the Nasdaq Exchange on April 14, slumped 1% after it reported a first quarter loss of USD6.1 million, compared with a loss of USD5.3 million a year earlier. The company forecast a loss of USD17 million for the full-year.
On the upside, department store retailer Kohl’s saw shares climb 1.1% after reporting a 5.5% increase in first quarter earnings to USD211 million, driven in part by its e-commerce division.
Other retailers could be active as the U.S. Census Bureau was to release retail sales data for April later in the day.
After Thursday’s closing bell, chip-maker Nvidia and clothing retailer Nordstrom were to release earnings results.
Across the Atlantic, European stock markets posted sharp losses as tumbling commodity prices weighed on mining shares. The EURO STOXX 50 slumped 1.35%, France’s CAC 40 fell 1.4%, Germany's DAX plunged 1.45%, while Britain's FTSE 100 sank 1.15%.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1.5% lower, while Hong Kong’s Hang Seng Index declined 0.95% amid concerns over further monetary tightening by China.
Later in the day, the U.S. was to publish a report on initial jobless claims as well as official data on producer price inflation and retail sales. In addition, Federal Reserve Chairman Ben Bernanke was to testify before the Senate Banking Committee in Washington.