Wall Street to open lower after retail sales, claims data

By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks were set for a lower open on Thursday, weighed by a disappointing outlook from Cisco Systems and weaker-than-expected data on consumer spending and the labor market. Cisco fell 3.3 percent to $22.09 in premarket trading and was poised to weigh on each of the major U.S. indexes after the network-gear maker forecast a drop of 6 to 8 percent in revenue in the current quarter. Futures extended declines after weaker-than-expected labor market and retail sales data. Retail sales fell 0.4 percent in January, against a forecast for sales to be unchanged, while December was revised lower to a 0.1 percent decline.