By Laura Mandaro, MarketWatch
SAN FRANCISCO (MarketWatch)--Stock index futures extended gains in after-hours trading Wednesday after Janet Yellen, the likely next chairwoman of the Federal Reserve, released testimony that defended quantitative easing. Cisco Systems Inc shares dropped after a revenue miss.
December futures for the Dow Jones Industrial Average (DJZ3) were up 86 points, or 0.6%, at 15,797. They had been up about 62 points before the testimony was released at 4:30 p.m. Futures for the Standard & Poor's 500 index (SPZ3) gained 16.10 points, or 0.9%, to 1,781. Futures for the Nasdaq-100 (NDZ3) were up 40 points, or 1.2%, at 3,405.
The push higher follows a rally in the regular session that lifted the Dow and S&P 500 to record closes. Stocks had shed early losses as investors began to position for the Yellen testimony, which was expected for release Thursday at the start of her confirmation hearing. At about the time of the reverse, there was also talk that the testimony would be released early. President Barack Obama has nominated Yellen, who must be confirmed by the Senate, to succeed Fed Chairman Ben Bernanke.
Gold (GCZ3) extended gains from its settlement on the Comex division of the New York Mercantile Exchange. It recently traded up $10, or 0.8%, to $1,280.90 an ounce. Treasurys also extended gains, while the British pound (GBPUSD) rose against the U.S. dollar.
Also after hours, Cisco (CSCO) shares fell 6%, deepening losses during the company's conference call as the company gave an outlook. While adjusted earnings beat forecasts, Cisco sales of $12.1 billion fell short of the $12.35 billion forecast by FactSet. The company also said its board approved an additional $15 billion buyback.
NetApp shares rose after adjusted earnings topped forecasts.
-Laura Mandaro; 415-439-6400; AskNewswires@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
11-13-13 1721ETCopyright (c) 2013 Dow Jones & Company, Inc.
|MARKET SNAPSHOT: Stocks Flatline, Waiting For Yellen; Cisco Drops ()|
|Stocks flatline, waiting for Yellen; Cisco drops ()|
|MARKET SNAPSHOT: Stocks Waver As Yellen Speaks; Cisco Drops ()|
|UPDATE: Stocks waver as Yellen speaks; Cisco drops (2013/11/14)|
|MARKET SNAPSHOT: Stocks Mostly Up After Yellen; Cisco Still Down (2013/11/14)|
|UPDATE: Stocks mostly up after Yellen; Cisco still down (2013/11/14)|
|MARKET SNAPSHOT: Stocks Near Highs Face Yellen, Cisco, Shaky Sentiment (2013/11/10)|
|UPDATE: Stocks near highs face Yellen, Cisco, shaky sentiment ()|
|UPDATE: U.S. stock futures edge up; Yellen talks 'continuity' (2014/2/11)|
|UPDATE: Stock futures fall with Yellen, data, Ukraine in focus (2014/2/27)|
|Start Premium Trial||Register For Free|
|P||F||Fund Financial Data (13,000+ funds)|
|P||F||Stock Financial Data (7,000+ stocks)|
|P||F||Stock and Fund Screeners (basic)|
|P||F||Investing Articles and Market Commentary|
|P||F||Articles Archive (>30 days)|
|P||F||Discuss (dozens of stock, fund, bond, and general bulletin boards)|
|P||F||Portfolio Manager (basic)|
|P||F||Morningstar Investment Classroom|
|P||F||Access Your Portfolio Anytime, Anywhere via Your Mobile Device|
|P||Morningstar Fund Analyst Reports (full research on 1,700 funds, ETFs, and CEFs)|
|P||Morningstar Stock Analyst Reports (full research on more than 1,100 stocks)|
|P||Portfolio Manager (advanced with 10 X-Ray analyses, including recommendations)|
|P||Portfolio Monitor (monthly and on-demand personalized portfolio statements)|
|P||Morningstar Proprietary Stock Information (stock star ratings, buy/sell prices, economic moat ratings, and more)|
|P||Morningstar 5-Star Stock and Fund Favorites & Red Flags eNewsletters|
|P||Premium Stock and Fund Screeners (advanced with nearly infinite ways to find the best securities for you)|
|P||Discounts on Morningstar newsletters, books, seminars, and more|
Access these features and more when you sign up for Free Membership.
Join Morningstar today. It's Free.
Access these features and more when you sign up for Premium Membership.
Start your free 14-day trial today online
Your subscription may be tax deductible. Please contact your tax advisor.