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U.S. stock futures showed little movement on Thursday, following another day of record highs across global equity markets. Investors continue to price in expectations that the Federal Reserve may soon lower interest rates. At the same time, Cisco Systems delivered stronger-than-expected guidance for the current quarter, driven by rising corporate investment in artificial intelligence. Key U.S. economic data is also scheduled for release, offering potential insights into the state of the economy.

Muted Futures Point to Potential Pause

Thursday’s futures activity suggested a calm after recent market gains, as global equities hit new record highs for a second consecutive session.

By 03:49 ET, Dow futures were essentially unchanged, S&P 500 futures had dipped 5 points (0.1%), and Nasdaq 100 futures were down 21 points (0.1%). On Wednesday, the main indexes advanced, with the S&P 500 and Nasdaq reaching all-time highs and the Dow Jones Industrial Average rising over 1%.

Investor optimism has been driven by expectations that the Federal Reserve could cut interest rates at its September meeting, amid signs of modest inflation and a softening U.S. labor market.

Adding to dovish sentiment, U.S. Treasury Secretary Scott Bessent commented that he “believed a more aggressive half-point rate cut by the Fed was potentially on the table due partially to sharp downward revisions to job growth in June and May.”

However, ING analysts noted that “markets aren’t pricing in anything over [a 25-basis point drawdown] for now,” and argued that a 50-basis point option likely won’t gain traction unless hints appear at the upcoming Jackson Hole economic symposium or the August jobs report “hugely disappoints again.”

Cisco Surpasses Revenue Expectations

Shares of Cisco Systems (NASDAQ:CSCO) remained relatively flat in after-hours trading, following an upbeat revenue outlook for the first quarter, despite noting some impacts from sweeping U.S. tariffs during the just-ended fiscal year.

Cisco has emerged as a likely beneficiary of rising corporate AI spending, as companies like Amazon and Alphabet continue to expand their investments in artificial intelligence despite previous large-scale outlays.

CEO Chuck Robbins told investors during a post-earnings call that AI infrastructure orders in Cisco’s fiscal fourth quarter exceeded $800 million, bringing the annual total above $2 billion — more than double the company’s initial target.

Quarterly revenue, ending July 26, came in at $14.67 billion versus estimates of $14.62 billion. Executives acknowledged a “small impact” on gross profit margins from U.S. tariffs on copper, steel, and aluminum, describing the operating environment as “complex.”

For the current quarter, Cisco projects revenue between $14.65 billion and $14.85 billion, slightly above analyst expectations of $14.62 billion. Investors will also have the chance to review additional earnings on Thursday, including results from Applied Materials (NASDAQ:AMAT) after the closing bell.

Economic Data in Focus

Thursday brings U.S. producer price data for July, which could offer a clearer picture of inflation trends. Analysts anticipate a slight increase, possibly offsetting tariffs with soft services inflation. Earlier reports indicated broadly muted consumer price growth in July, though some observers warned that President Donald Trump’s aggressive trade agenda might have delayed effects in coming months.

Weekly initial jobless claims are also set for release, with expectations of little change. Policymakers continue monitoring labor market trends closely, as recent softening may influence the Fed’s approach to resuming rate cuts paused in December.

DeepSeek Postpones New AI Model

According to the Financial Times, DeepSeek has delayed the launch of its R2 AI model due to technical problems encountered when training on Huawei Ascend chips. The company switched to Nvidia chips for training while retaining Ascend for inference, causing the delay from the original May release.

The report emphasizes the challenges Chinese AI developers face in reducing reliance on U.S. technology, especially Nvidia’s chips, despite government encouragement to use Huawei’s Ascend processors earlier this year.

Bitcoin Hits Fresh Record

Bitcoin (COIN:BTCUSD) reached a new all-time high on Thursday, buoyed by expectations of Fed rate cuts and increased corporate adoption. Lower interest rates free up liquidity for speculative assets, benefiting cryptocurrencies.

Corporate buying also supported Bitcoin. Metaplanet, the world’s sixth-largest corporate Bitcoin holder, recently purchased over $60 million in the cryptocurrency and plans to raise billions more to expand holdings. Earlier in August, MicroStrategy Incorporated (now Strategy) made a major Bitcoin acquisition, bringing its total holdings to more than 628,000 coins.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

European equities traded in a narrow range Thursday as investors assessed regional economic indicators and corporate results, ahead of key U.S. inflation figures later in the session.

At 07:05 GMT, Germany’s DAX edged up 0.1%, France’s CAC 40 added 0.2%, while the U.K.’s FTSE 100 slipped 0.2%.

U.K. Growth Exceeds Expectations

Investors paused after recent gains to digest fresh data on economic performance. The U.K. economy expanded 0.3% in Q2 2025, exceeding the Bank of England’s 0.1% forecast, though this marked a slowdown from the 0.7% growth in Q1. On a monthly basis, June saw GDP rise 0.4%, above the anticipated 0.1%, following declines in April and May.

Eurozone Q2 GDP figures are expected later Thursday, with forecasts pointing to modest 0.1% growth, a slowdown from the 0.6% recorded in Q1. Meanwhile, U.S. producer price data for July will be watched closely, especially after recent mild consumer inflation, which has raised speculation of a potential Federal Reserve rate cut in September.

Corporate Earnings Spotlight

Several companies released results Thursday.

• Carlsberg (TG:CBGB) missed half-year profit and volume targets, signaling a challenging consumer backdrop for the remainder of 2025.
• RWE (TG:RWE) reported weaker-than-expected H1 earnings due to lower wind generation and difficult energy trading conditions.
• Antofagasta (LSE:ANTO) saw H1 core earnings surge nearly 60%, boosted by higher copper production and sales.
• Swiss Re (TG:SR9) exceeded expectations on net income, aided by lower catastrophe claims, stronger underwriting margins, and increased investment returns.
• Lanxess (BIT:1LXS) lowered its full-year profit guidance, citing weak demand and no anticipated improvement in the economic environment.
• Hapag Lloyd (TG:HLAG) posted a 3.1% drop in H1 net income and revised down the top end of its full-year earnings outlook, citing ongoing geopolitical uncertainty.

Oil Prices Rebound Amid Geopolitical Focus

Crude oil recovered slightly from recent losses ahead of a Friday meeting between U.S. President Trump and Russian President Vladimir Putin. At 03:05 ET, Brent futures rose 0.7% to $66.06 per barrel, while WTI climbed 0.7% to $63.06 per barrel.

Both contracts had hit two-month lows Wednesday after U.S. crude inventories rose unexpectedly by 3 million barrels, stoking concerns over demand as the summer driving season ends. Traders are also closely watching the Alaska summit between Trump and Putin, aimed at resolving the conflict in Ukraine. Trump warned Wednesday of “severe consequences” if Putin does not agree to peace, though specifics were not provided, echoing previous threats of economic sanctions.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

The U.K. economy expanded more than anticipated in June, following two consecutive months of contraction, although overall growth slowed during the second quarter.

According to data released Thursday by the Office for National Statistics, gross domestic product increased by 0.3% from April to June, beating the forecast of 0.1%. This, however, marks a notable slowdown from the 0.7% growth recorded in Q1.

On a monthly basis, the economy grew 0.4% in June, recovering from a 0.1% decline in May and a 0.3% drop in April—the latter being the largest monthly fall since October 2023. The June rise also exceeded expectations of 0.1% growth.

Compared with the same period last year, the U.K. economy grew 1.2% in Q2, slightly down from the 1.3% annual increase seen in the first quarter.

Economists note that the slowdown partly reflects earlier distortions linked to U.S. tariffs announced in April, which prompted a surge in exports in the first quarter. That boost has since faded, weighing on growth. Additionally, business surveys indicate that government measures—such as higher taxes and an increased minimum wage—have put pressure on companies, affecting both output and hiring.

These figures could pose challenges for Chancellor Rachel Reeves, whose policies are aimed at stimulating economic growth during her first year in office. The economy had slipped into recession at the end of 2023 but rebounded in the first half of 2024. Growth, however, has remained modest since then.

Reeves is widely expected to implement further tax increases in her upcoming annual fiscal plan, scheduled for October or November, in an effort to keep government finances aligned with her fiscal targets.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

ITM Power plc (LSE:ITM) delivered robust financial results for FY25, with revenues growing over 50% year-on-year, driven by strong commercial activity and a growing order backlog. The company highlighted its focus on operational excellence, manufacturing quality, and technological innovation, reinforcing its position as a leading provider in the green hydrogen sector. A solid cash position supports ITM Power’s scale-up strategy, while involvement in landmark projects and expanding market engagement underline accelerating demand for green hydrogen solutions.

Outlook

Despite encouraging short-term momentum and positive corporate developments, ITM Power continues to face significant financial challenges and valuation pressures. While technical indicators reflect potential near-term gains, long-term investor confidence will depend on addressing underlying financial health. Strategic partnerships, contract wins, and operational advancements provide a pathway for growth, but financial stability remains a key priority for the company’s sustained market leadership.

About ITM Power

ITM Power specializes in electrolyser technology, offering high-performance, reliable solutions for the green hydrogen industry. The company’s proprietary stack technology enables scalable applications for projects worldwide, and ITM Power remains committed to innovation, supply chain resilience, and supporting the global transition to clean energy.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

SkinBioTherapeutics plc (LSE:SBTX) provided a trading update for FY25, projecting revenues between £4.5 million and £4.8 million, reflecting strong growth from both acquisitions and organic sales. While slightly below market expectations due to the timing of certain orders, the company is approaching profitability, with a reduced EBITDA loss. A robust cash position, strengthened by a recent fundraising round, supports a commercial agreement with Superdrug to launch AxisBiotix™ supplements. Post-year-end trading has remained strong, and preparations for the Superdrug rollout are well underway, setting the stage for accelerated growth and enhanced shareholder value.

Outlook

Although SkinBioTherapeutics continues to face financial challenges with ongoing losses and cash burn, strategic partnerships and recent corporate initiatives could provide meaningful upside in the future. Current technical indicators show bearish trends, but the company’s expansion plans and commercial progress offer potential long-term benefits once translated into improved financial results.

About SkinBioTherapeutics

SkinBioTherapeutics is a life sciences company specializing in skin health, leveraging its proprietary SkinBiotix® platform, developed in collaboration with the University of Manchester’s translational dermatology team. The company targets the skin healthcare market through five key pillars, focusing on cosmetic skincare and food supplements that connect gut and skin health. Products include AxisBiotix-Ps™, a supplement aimed at inflammatory skin conditions. SkinBioTherapeutics also partners with Croda plc and is expanding through acquisitions in skincare and cosmetics, enhancing both distribution and manufacturing capabilities.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Capital Limited (LSE:CAPD) posted a mixed set of results for the first half of 2025. Revenue fell by 6% to $159.2 million year-on-year, while EBITDA and operating profit also declined. However, net profit after tax surged by 54.2%, driven primarily by investment gains. The company remains optimistic about the year ahead, raising its full-year revenue guidance and maintaining a strong safety record. Operational enhancements and new contract wins, particularly in its drilling and MSALABS divisions, are expected to support future performance while keeping capital expenditure disciplined.

Outlook

Capital Limited’s combination of improved profitability, robust technical indicators, and recent corporate milestones positions it well for continued growth. Valuation metrics suggest potential for both income generation and capital appreciation.

About Capital Limited

Capital Limited is a leading provider of mining services, offering drilling, mining, and laboratory solutions. The company operates across multiple regions, with a focus on expanding its presence in North America and the Middle East, and is recognized for strong operational discipline and safety performance.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Rank Group PLC (LSE:RNK) posted solid financial results for the year ending June 2025, driven by strategic investments and operational improvements. The company recorded an 11% increase in like-for-like net gaming revenue and a 38% rise in underlying operating profit. Recent legislative changes in the casino industry are expected to further strengthen Rank’s market position, enabling additional gaming machines and introducing sports betting across its venues. The company’s digital operations also delivered robust growth, supporting its medium-term revenue objectives. Rank’s focus on safer gambling and employee engagement continues to underpin operational efficiency and customer trust.

Outlook

Rank Group demonstrates strong growth momentum, supported by corporate developments and solid financial recovery. Although technical indicators suggest overbought conditions, the company’s valuation and positive strategic positioning indicate potential for further gains.

About Rank Group PLC

Rank Group PLC operates in the gaming and betting sector, with land-based casinos, bingo halls, and digital platforms. Its portfolio includes Grosvenor, Mecca, and Enracha venues, with a focus on delivering high-quality customer experiences and expanding digital offerings.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Savills PLC (LSE:SVS) reported a 6% increase in revenue to £1,127.8 million for the first half of 2025, alongside a 10% rise in underlying profit before tax. While Q1 showed strong performance, Q2 was affected by geopolitical tensions and economic uncertainty, particularly impacting transactional markets. Despite these headwinds, Savills maintained a solid balance sheet and expects market conditions to improve, supported by robust commercial pipelines and ongoing investments in technology and business development.

Outlook

Savills benefits from strong financial results and positive corporate developments. However, mixed technical indicators and a high valuation suggest caution for immediate upside. The company’s strategic initiatives and sound financial position provide a strong foundation for future growth.

About Savills PLC

Savills PLC is a global real estate advisory firm offering services in transaction advisory, consultancy, property and facilities management, and investment management. The company operates across EMEA, Asia Pacific, and North America, serving a diverse international client base.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Strategic Minerals PLC (LSE:SML) has made notable strides in its Redmoor Critical Minerals Project, completing its first drillhole, CRD033, which revealed encouraging mineralized intersections. The ongoing drilling program, partly funded by a UK government grant, is designed to support an updated mineral resource estimate expected by early 2026.

In parallel, the company has promoted key personnel within its Cornwall Resources Limited division to improve operational efficiency. Separately, Strategic Minerals has agreed to transfer the call option for the Leigh Creek Copper Mine to Cuprum Metals, potentially resulting in a significant financial arrangement based on the mine’s future production.

Outlook

Strategic Minerals exhibits signs of financial recovery and potential undervaluation, bolstered by recent corporate initiatives. Nevertheless, historical price volatility and neutral technical indicators point to a balanced risk-reward profile for investors.

About Strategic Minerals PLC

Strategic Minerals PLC is an AIM-listed company engaged in mineral exploration and production across the UK, United States, and Australia. Its portfolio includes the Redmoor Tungsten-Tin-Copper Project in Cornwall, UK, which was fully acquired in 2019, alongside other strategic mineral assets.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Secure Trust Bank PLC (LSE:STB) recorded a notable increase in profits for the first half of 2025, with adjusted pre-tax earnings rising 36.3% to £23.3 million, driven by robust income growth and disciplined cost management. The bank is actively reshaping its strategy, moving away from Vehicle Finance to concentrate on higher-margin areas, and is on track to achieve £8 million in annualized cost savings by year-end. A leadership transition has also been announced, with Ian Corfield set to assume the role of CEO, and a refreshed strategic plan is expected in Q4 2025.

Outlook

Secure Trust Bank’s prospects are supported by strong technical indicators and positive corporate developments that reflect confidence in its leadership. While valuation metrics point to potential undervaluation, challenges around profitability and cash flow remain. Limited recent earnings guidance makes management sentiment and forward-looking expectations less transparent.

About Secure Trust Bank PLC

Secure Trust Bank PLC is a specialist UK bank offering a broad range of financial services for retail and business clients. Renowned for its focus on niche lending, the bank is pivoting away from Vehicle Finance to prioritize sectors with stronger performance and better resource allocation.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.