Key Takeaways
- Wells Fargo has significantly increased its price target for Cisco Systems (CSCO) to $83 from $75, citing the networking giant's strong position in Artificial Intelligence (AI).
- Nasdaq 100 Futures have recovered from earlier losses to trade steady, reflecting a cautious market sentiment ahead of key economic data and Federal Reserve policy expectations.
- U.S. President Donald Trump and Russian President Vladimir Putin are scheduled to hold a one-on-one meeting in Anchorage, Alaska, on Friday, August 15, at 11:30 AM local time, with the Ukrainian crisis as a central topic.
Wells Fargo has demonstrated increasing confidence in Cisco Systems (CSCO), raising its price target for the networking giant to $83 from the previous $75. This upgrade, announced by analyst Aaron Rakers, reaffirms an "Overweight" or "Buy" rating on the stock. The positive adjustment is largely attributed to Cisco's robust capabilities and strategic advancements in Artificial Intelligence (AI).
Following the news, Cisco shares experienced a notable surge, climbing nearly 6% in Thursday afternoon trading. Analysts highlighted that Cisco recently surpassed its fiscal third-quarter order target of $1 billion with a full quarter remaining, further bolstering investor sentiment. The company's expanding presence in AI is underscored by partnerships, including the HUMAIN initiative in Saudi Arabia and collaboration with G42 in the United Arab Emirates, aimed at building open and scalable AI infrastructure.
Meanwhile, Nasdaq 100 Futures have shown resilience, recovering from earlier declines to trade steady. This stabilization follows a period where the futures had fallen by 0.8%, trading near 23900. The broader U.S. stock index futures remained largely muted on Thursday, as investors await crucial economic data, including the Producer Price Index (PPI) and weekly jobless claims, which could influence the Federal Reserve's monetary policy decisions. Markets are currently pricing in a high probability of a 25-basis-point interest rate cut by the Fed in September.
In a significant geopolitical development, U.S. President Donald Trump and Russian President Vladimir Putin are set to meet on Friday, August 15, 2025, at the Joint Base Elmendorf-Richardson in Anchorage, Alaska. The meeting is scheduled to commence at 11:30 AM local time (Anchorage) with an initial one-on-one discussion, followed by talks involving delegations. The primary agenda for this high-stakes summit is the "settlement of the Ukrainian crisis," with discussions also expected to cover bilateral cooperation, including economic and trade matters. A joint press conference is anticipated after the talks. This marks the first in-person meeting between the two leaders since Russia's invasion of Ukraine in 2022, as President Trump aims to broker a ceasefire.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.