With traders weighing some disappointing economic data against upbeat earnings news from tech giant Cisco (CSCO), stocks may show a lack of direction in early trading on Thursday. The major index futures are currently pointing to a mixed open for the markets.
Cisco may help to lead technology stocks higher, with the networking giant jumping 13 percent in pre-market trading after releasing its third quarter results after the close of trading on Wednesday.
While Cisco reported third quarter results that exceeded analyst estimates, further buying interest was generated by Chairman and CEO John Chambers' remarks indicating that the company is starting to see some encouraging signs in the U.S. and other parts of the world.
However, the positive sentiment was partly offset by a batch of disappointing U.S. economic data, including a report from the Labor Department showing a bigger than expected increase in initial jobless claims in the week ended May 11th.
Disappointing quarterly results from Wal-Mart (WMT) may also weigh on the markets, with the retail giant dipping 2 percent in pre-market trading.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.