* Cisco slides after disappointing forecast

* Initial jobless claims jump

* S&P 500 futures off 7.60 points, Dow futures off 70 points, Nasdaq futures off 18 points

* For up-to-the-minute market news, click [STXNEWS/US] (Adds details, recasts)

By Leah Schnurr

NEW YORK, Feb 5 (Reuters) - Wall Street was poised for a lower open on Thursday as a jump in new claims for unemployment benefits to a 26-year high signaled a deteriorating economy, while grim corporate earnings and outlooks also dragged.

Government data showed the number of U.S. workers filing initial jobless claims jumped last week, a day before Friday's key January U.S. nonfarm payrolls report. For details see [ID:nN05420872].

"Not good," said Frank Lesh, futures analyst and broker at FuturePath Trading LLC in Chicago of the claims numbers.

"There's some selling in the markets on it. I think this is a precursor for tomorrow, and maybe tomorrow's numbers will be pushed up after people see this."