Stock Market Today: Futures Point Higher After Dow Pulls Back From Record; Cisco Systems Shares Sink After Earnings

Stocks were poised for a higher open Thursday, a day after major equities indexes ticked lower, with the Dow Jones Industrial Average snapping a three-session winning streak during which it set intraday and closing records each day. 

Dow, S&P 500, and Nasdaq 100 futures were up 0.3% apiece about three hours before the opening bell.

Yesterday, the tech-heavy Nasdaq and blue-chip Dow Jones Industrial Average finished down 0.2% and 0.1%, respectively, while the benchmark S&P 500 closed less than a point lower as investors digested a flurry of earnings and a January U.S. employment report that came in better than economists expected. Despite yesterday’s declines, the three major indexes all were higher for the week.

In notable post-earnings moves, shares of Cisco Systems (CSCO) were down nearly 8% before the bell, while those of AppLovin (APP) were down 5%, Budweiser parent Anheuser-Busch InBev (BUD) rose 2.5%, and McDonald’s (MCD) ticked higher.

All of the Magnificent Seven stocks except for Apple (AAPL) pointed higher before the bell, led by a 1% rise in Nvidia (NVDA) shares.

The yield on the 10-year Treasury—which impacts interest rates on a variety of consumer loans including mortgages—was little changed from Wednesday’s close at just below 4.18%. 

Bitcoin was trading around $67,900, up from overnight lows around $66,600. The U.S. dollar index, which tracks the value of the greenback against a basket of global currencies, was little changed at 96.82.

Gold futures slipped 0.3% to $5,085 an ounce, while silver futures declined about 1% to $83.15 an ounce. West Texas Intermediate crude futures, the U.S. benchmark, were 0.4% lower to $64.40 a barrel.