United States stock futures were little changed on Wednesday night (Thursday AEST) as traders awaited further inflation data and assessed a fresh batch of corporate earnings.
By 9:55 am AEST (11:55 pm GMT), Dow futures were flat, S&P 500 futures had slipped 0.03%, while Nasdaq-100 futures were down 0.2%.
In extended trading, Coherent fell 1.8% after its adjusted gross margin for the fourth quarter came in roughly in line with expectations. Non-GAAP gross margin was 40.2%, compared with the StreetAccount consensus estimate of 40%.
Cerebras Systems shares tumbled 15.9% after the artificial intelligence chipmaker reported second-quarter revenue of $180 million, below the LSEG consensus estimate of $194 million.
StubHub shares dropped more than 15% after adjusted gross margin for the second quarter came in at 82.2%, below the StreetAccount consensus of 84.3%. The company nevertheless reaffirmed its full-year adjusted EBITDA outlook.
Cisco Systems shares fell 3% after adjusted gross margin for the fourth quarter narrowly beat expectations, reaching 66.3% compared with the StreetAccount consensus of 66%.
Investors will turn to the July U.S. producer price index on Thursday. The PPI, which measures prices wholesalers pay for raw goods and materials, is expected to rise 0.2% from the previous month.
The PPI report comes a day after the July consumer price index (CPI) matched expectations, rising 0.1% month-on-month.
The subdued reading helped lift the S&P 500, which closed higher for the first time in three sessions, while traders reduced expectations for a September interest rate hike.
Investors will receive further economic data on Friday with the release of July retail sales. Economists expect retail sales to have increased just 0.1% last month.
