The S&P 500 futures are down by five points, Nasdaq 100 futures are up by ten points, and Dow Jones Industrial Average futures are down by seven points.
The market is mixed this morning as investors await the January Producer Price Index data at 8:30 ET and more information on President Trump's tariffs announcement.
Investors are also looking at earnings reports. Cisco (CSCO, Financial) is seeing a good pre-market rise after its report, while Reddit (RDDT) shares are falling before the market opens.
The 10-year yield is down to 4.60%, and the 2-year yield has decreased to 4.35%.
Cisco Systems (CSCO, Financial) reported impressive second-quarter results, surpassing expectations and signaling a potential resurgence. The company's shares rose 6.5% in premarket trading, buoyed by a successful data center refresh and AI initiatives. Analysts attribute the performance to Cisco's strategic moves, including the integration of the Splunk acquisition and new product launches. Cisco is expected to sustain mid-single-digit sales growth as it transitions its business model.
JPMorgan Chase's (JPM, Financial) CEO Jamie Dimon dismissed a petition from employees seeking to reverse the bank's five-day return-to-office policy. The petition, which garnered about 950 signatures, was criticized by Dimon, who emphasized the importance of in-office work for efficiency. He mandated a 10% increase in efficiency across departments, rejecting any notion of flexible work arrangements.
Datadog (DDOG, Financial) saw its shares fall about 9% premarket after its fourth-quarter results beat estimates but the outlook fell short. The company projected first-quarter revenue slightly below consensus and a full-year outlook that missed expectations. Despite the dip, Datadog remains focused on delivering innovations in observability and cloud security.
Deere (DE, Financial) reported a significant earnings decline, with shares falling 6% in premarket trading. The agricultural equipment manufacturer cited weak demand due to falling crop prices and announced job cuts to manage expenses. Deere's first-quarter performance reflected a challenging market environment, with sales dropping 30% year-over-year.
CyberArk Software (CYBR, Financial) shares rose 5% premarket following strong fourth-quarter results. The identity security firm reported a 41% increase in revenue and slightly surpassed outlook expectations. CyberArk's subscription revenue saw significant growth, bolstered by its organic ARR reaching $1 billion.
British American Tobacco (BTI, Financial) provided a mixed outlook, with a slight decline in revenue but improved gross margins. The company anticipates challenges from regulatory changes and excise increases in certain markets but remains optimistic about deploying innovations to drive future growth.
Zoetis (ZTS, Financial) met revenue expectations with a 5% year-over-year increase in the fourth quarter. The company provided a cautious full-year revenue guidance, reflecting concerns about competition and potential price increases.
KULR Technology (KULR, Financial) announced a strategic partnership with Worksport (WKSP, Financial) to advance battery technology. The collaboration focuses on developing joint battery packs and integrating AI into battery management systems. Both companies are exploring domestic manufacturing options to meet growing demand.
Annaly Capital Management's (NLY.PR.F) preferred shares declared a quarterly dividend, maintaining a forward yield of 9.24%. The company continues to explore growth opportunities in agency MBS and residential credit expansion.
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