U.S. stock markets remained mostly flat Thursday as investors processed corporate earnings and awaited key labor market data, the Associated Press reported. Futures for the S&P 500 dipped slightly, while the Dow Jones and Nasdaq saw little movement.
Deere & Co. dropped 5.2% after reporting a 30% decline in fourth-quarter sales and a 50% plunge in profit, citing uncertain market conditions. Meanwhile, Cisco Systems jumped 6.4% after surpassing Wall Street’s expectations, driven by strong demand for AI infrastructure. Reddit, despite exceeding revenue and profit projections, fell 12% after reporting nearly half a billion dollars in losses for 2024.
Oil prices continued to slide following President Trump’s claim of an agreement with Russia’s leader to begin talks on ending the Ukraine war, potentially easing crude supply constraints. U.S. crude fell to $70.37 per barrel, while Brent crude dropped to $74.19.
In currency markets, the U.S. dollar weakened against the yen, falling to 153.94 from 154.31, while the euro inched up to $1.0394.
