Dow Futures Edge Lower As Wall Street Watches Out For PPI Report: BLSH, COHR, CSCO Among Stocks To Watch

While Dow Jones futures edged 0.01% lower at the time of writing, the S&P 500 futures slid 0.06%.

U.S. stocks appear set for a cautious opening on Thursday as investors await the release of wholesale inflation data, after the consumer price index pointed to softer-than-expected inflation in July.

Wall Street expects the producer price index (PPI) to rise 0.2% in July on a monthly basis, after remaining flat in June.

While Dow Jones futures edged 0.01% lower at the time of writing, the S&P 500 futures slid 0.06%, while the tech-heavy Nasdaq 100’s futures fell 0.07%. Futures of the Russell 2000 index were down 0.27%.

Meanwhile, the SPDR S&P 500 ETF (SPY) edged lower by 0.03% at the time of writing, while Invesco QQQ Trust (QQQ) was down 0.02% on Thursday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Asian markets ended Thursday’s trading session on a largely negative note, with the Nikkei 225 leading with a decline of 1.36%, followed by the TWSE Capitalization Weighted Stock index at 0.54%, Hang Seng at 0.52%, and the Shanghai Composite at 0.46%.

The KOSPI ended the day with a gain of 0.04%.

Stocks To Watch

• Bullish (BLSH): Bullish shares rose 11% in Thursday’s pre-market trade after surging nearly 200% in its market debut on Wednesday. The stock closed 84% higher on its first day on the bourses.
• Coherent Corp. (COHR): Coherent stock plunged 20% pre-market after the company’s first-quarter (Q1) revenue guidance of $1.46 billion to $1.6 billion, at a midpoint of $1.53 billion, fell short of Wall Street expectations of $1.54 billion, according to Stocktwits data.
• Cisco Systems Inc. (CSCO): Cisco reported earnings per share (EPS) of $0.99 in the fourth quarter (Q4) on revenue of $14.7 billion, edging past Wall Street estimates of $0.98 EPS on revenue of $14.62 billion, according to Stocktwits data.
• Applied Materials Inc. (AMAT) and JD.com Inc. (JD) are among the companies reporting their latest results on Thursday.

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