U.S. stock index futures fell on Thursday on disappointing earnings from Cisco and Credit Suisse before weekly jobless claims data.
Cisco Systems Inc
Overseas, disappointing earnings also hurt sentiment, with European shares off nearly 1 percent after bank Credit Suisse
Several global earnings reports have taken some air out of the markets' tires, said Andre Bakhos, director of market analytics at Lek Securities in New York.
While there's no cause for concern yet, days like this prompt on-defense sellers to jump; it's an excuse to sell.
S&P 500 futures fell 7.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures tumbled 54 points, and Nasdaq 100 futures were off 19.25 points.
The S&P 500 index's chart shows near-term technical support at the 1,313 level, getting stronger near 1,300.
Soft drink and snacks maker PepsiCo Inc
Debt yields rose in indebted European counties on concerns over the lack of a concrete policy to tackle the euro-zone debt crisis. The U.S. dollar rose versus the euro and pulled commodity prices lower.
Weekly jobless claims data, closely followed to track the recovery of the labor market, is due at 8:30 a.m. Economists in a Reuters survey forecast a total of 410,000 new filings for unemployment benefits, compared with 415,000 in the prior week.
At 10 a.m., the Commerce Department releases wholesale inventories for December. Economists forecast a 0.7 percent rise versus a November decrease of 0.2 percent.
Computer security firm McAfee Inc
On Wednesday, investors took profits after a recent rise in U.S. stocks, but a late push helped the Dow squeeze out its eighth straight day of gains.
(Reporting by Rodrigo Campos; Editing by Kenneth Barry)