To The Moon

Daily market update 

Futures tied to the Dow Jones Industrial Average ticked lower Thursday night as investors continued evaluating earnings reports and tougher language from Federal Reserve speakers.

Futures connected to the 30-stock index inched down 54 points, or 0.2%. The S&P 500′s futures traded near flat, while Nasdaq-100 futures jumped 0.1%.

Thursday brought another day of drops for the major indexes. The S&P 500 shed 0.31%, and the Nasdaq Composite lost 0.35%. The Dow Jones Industrial Average inched downward by 0.02%.

Cisco shares rose during regular trading, jumping off of earnings results. Meanwhile companies posting results after the closing bell such as Gap, Ross Stores and Palo Alto Networks added to the mix of companies outperforming expectations.

But investors also had to consider comments from more than half a dozen Fed speakers at events across the country. Notably, St. Louis Federal Reserve President James Bullard said Thursday that “the policy rate is not yet in a zone that may be considered sufficiently restrictive.” He suggested that the appropriate zone for the federal funds rate could be in the 5% to 7% range, which is higher than what the market is pricing.