The Dow Jones futures are falling after a target triggers a sell-off; a market rally has a 90% chance of succeeding.
Cisco Systems' dismal revenue and guidance sent Dow, S&P, and Nasdaq futures tumbling early Thursday.
A huge Target (TGT) earnings miss prompted concerns about retailers, allied sectors, and the economy amid high inflation and diminishing demand.
Wednesday's selling comes after major indexes confirmed the recent stock market rally with gloomy indications.
The major indexes could challenge their rally lows on May 12, according to Thursday's futures. Undercutting would kill the rally.
Cisco beat Q3 earnings estimates, but revenue missed, and the networking giant lowered Q4 guidance. CSCO fell 13% Thursday morning.
Target earnings fell 41%, more than expected. Shipping costs and customer shifts away from TVs and other discretionary items were cited.
Overnight action in Dow futures and others doesn't always convert into next day's trade.
Why did Target stock fall today
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