The Daily Chase: Rate hikes loom over investor sentiment; Cisco forecasts strong sales growth

North American equity market futures are pointing to a weaker open amid mounting concerns over prospects for economic growth and rising rates.

CISCO DELIVERS BULLISH OUTLOOK

Shares of Cisco Systems are popping in the premarket, up some 4.5 per cent, after the company delivered a bullish outlook through the end of the year. The company says sales for the quarter ending in January will be up somewhere between 4.5 and 6.5 per cent, topping Wall Street forecasts. The darker side, in terms of an employment perspective – Cisco says it will undertake a restructuring plan that will impact five per cent of its workforce, joining the likes of Meta, Amazon and Salesforce in cutting jobs.

XI CONFRONTS TRUDEAU ON G-20 SIDELINES