Reply #2: Stocks Set for Cautious Open

[ozymandius]

NEW YORK (Reuters) - Stocks are set for a cautious open on Wednesday after technology bellwether Cisco Systems Inc. CSCO.O reported a jump in quarterly net income but failed to top Wall Street expectations.

Equity futures ticked higher but were still well below fair value after a steep sell-off on Tuesday.

"It's really a flip of the coin, and it's hard to say which direction we are going to open. Cisco came out with numbers that we should be excited about, but we are not," said Arthur Hogan, chief market analyst at Jefferies & Co.

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