5 things to know before the stock market opens Thursday

📺 24/7 Chicago news stream: Watch NBC 5 free wherever you areStock futures were higher Thursday morning after a winning day for all three major indexes on Wednesday on the back of encouraging U.S. inflation data. TheWednesday showed the annual inflation rate slowed to 2.9% in July, the lowest year-over-year price gain since 2021.

Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyquarterly results that it would reduce its global workforce by 7% as part of a restructuring plan that would result in $1 billion in pre-tax charges. Between $700 million to $800 million of that impact will be recognized in the current quarter, Cisco said. It's the second major round of layoffs at Cisco in recent months after an announcement in February that it would cut more than 4,000 jobs, amounting to 5% of its workforce at the time.

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