Here Are Wednesday’s Top Wall Street Analyst Research Calls: BILL Holdings, Cava Group, Entergy, GlobalFoundries, Hess Midstream, Nike, Pfizer, SharkNinja, STMicroelectronics, and More Quick Read – Tuesday’s ‘buy the dip’ rally failed again, leaving the Nasdaq down 1% and S&P…
0 lower, while bond yields pulled back from key resistance levels. – Nike (NKE) was cut to Sector Perform at RBC with a $50 target, while STM was upgraded to Buy at Bank of America targeting $100. – Oil dropped 3% as Iran peace optimism and increased Strait of Hormuz traffic drove selling, offering pump relief during the summer driving season. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Bill Holdings didn’t make the cut. Grab the names FREE today
Pre-Market Stock Futures: Futures are trading lower after the stock market tried to take a cue from Monday’s action, and things didn’t work out quite as well on Tuesday. Once again, the market gapped open higher as the “Buy the dip” legions came in to ride what they thought would be another wave higher, only to once again see the gains reversed. This time, Monday’s pattern repeated, but the damage was greater: two of the four major indices closed lower, with the Dow Jones Industrial Average, which was the only index to close lower on Monday, finishing the session higher at 50,871, up 0.17%.
The small-cap-heavy Russell 2000 closed the day at 2,864, up 0.32%. The Nasdaq finished the day down 0.97% at 25,678, while the S&P 500 was last seen down 0.26% at 7,386. Treasury Bonds: Yields were down across the Treasury curve, as every time the long end gets over the 5% levels, and the 10-year trades above 4.50%, the buyers return.