US stock futures were little changed on Thursday as investors digested another wave of corporate earnings. In extended trading, AppLovin fell 6% despite reporting quarterly results that topped expectations. Cisco Systems declined 7% after posting weaker gross margins, while McDonald’s inched lower even as it delivered an earnings beat.
During Wednesday’s regular session, the S&P 500 finished roughly flat, while the Dow and Nasdaq Composite slipped 0.13% and 0.16%, respectively. The major averages initially advanced on stronger-than-forecast January employment data but later reversed as software and other rate-sensitive stocks came under pressure. Nonfarm payrolls increased by 130,000, well above the consensus estimate of 55,000, pushing Treasury yields higher as traders scaled back expectations for Federal Reserve rate cuts. Despite the late-session pullback, market breadth remained relatively firm, with eight of the S&P 500’s 11 sectors closing in positive territory, led by energy, consumer staples, and materials.
