Pre-Market Stock Futures:
Futures are trading lower as we get ready to start the third quarter after a record-setting second quarter that saw the Dow Jones Industrial Average close at 52,317, up 0.26% to finish the venerable index’s best first half since 2021, while the Nasdaq finished the session at 26,213, up 1.52% for the tech-heavy index’s best quarterly finish since 2020. The S&P 500 closed the day at 7,499, up 0.79% for its best-performing quarter since 2020, and lastly, the small-cap Russell 2000, which is the leading index this year, up more than 21%, was last seen at 3,025, up 0.51% for its best first half of the year since 1991. These results are staggering: we had a 10% correction earlier this year, and the Magnificent 7, which led the market for the last three years, has underperformed the broader S&P 500 so far in 2026. While the strength could continue into the third quarter, stocks are currently in overbought territory and could see a summer slump.
Treasury Bonds:
Yields were higher across the Treasury curve to finish the first half of 2026, with only the shortest T-bill maturities seeing some light buying on Tuesday. Most traders are waiting for news from the Qatar peace negotiations, and also Thursday’s non-farm payrolls, which the Kashi markets are predicting will come in below expectations after a huge report in May. The 30-year Treasury bond closed at 4.94%, while the benchmark 10-year note was last at 4.45%.
Oil and Gas:
After rallying yesterday, the sellers returned to the energy complex on Tuesday, as final positions were settled for the second quarter. The energy sector had a strong first half of 2026, up over 21%, rebounding from a sluggish 2025 to become one of the S&P 500’s best-performing groups, led again by refiners. Rising oil prices, tightening supply amid geopolitical tensions, and investors favoring companies with strong current cash flow over speculative growth bets remain the place to be. Though energy remains cyclical and exposed to risks such as a potential recession or shifting OPEC supply, it has pulled back significantly from the March highs and currently offers a very solid entry point. Brent Crude closed the session at $73.43, down 0.65%, while West Texas Intermediate was last seen at $70.08, down 0.95%. Natural gas rebounded from Monday’s selling to finish the day at $3.26%, up 2.2%.
Gold
After a solid start to the Tuesday session, precious metals turned lower in the afternoon and finished the day mixed. Gold experienced a volatile first half of 2026, characterized by a massive early-year rally to record highs followed by a sharp mid-year correction. While most on Wall Street remain positive on the sector, we could see more sideways trading as both Gold and Silver continue to form a base at current levels. The final trade for Gold on Tuesday was reported at $4,010, down 0.15%, while Silver was last seen at $58.64, up 0.80%.
Crypto:
24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.
Here are some of the best Wall Street analyst upgrades, downgrades, and initiations seen on Wednesday, July 1, 2026.
Upgrades:
- Abivax (NASDAQ: ABVX) was upgraded to Buy from Hold at Jefferies, which lifted the target price for the shares to $158 from $108.
- Circle Internet Group (NYSE: CRCL | CRCL Price Prediction) was raised to Neutral from Sell at Compass Point, which dropped the target price for the shares to $55 from $97.
- Lockheed Martin (NYSE: LMT) was upgraded to Buy from Neutral at Citigroup, which bumped the target price for the defense giant to $582 from $571.
- Salesforce (NYSE: CRM) was raised to Buy from Neutral at Guggenheim, with a $228 target price objective.
- ServiceNow (NYSE: NOW) was upgraded to Buy from Neutral at Guggenheim, with a $125 target price.
Downgrades:
- Cullen/Frost Bankers (NYSE: CFR) was downgraded to Market Perform from Outperform at Raymond James, without a target price.
- Dow (NYSE: DOW) was downgraded to Sector Perform from Outperform at RBC Capital, which slashed the target price for the shares to $28 from $51.
- PROG Holdings (NYSE: PRG) was downgraded to Hold from Buy at Loop Capital, with an unchanged price target of $48.
- Simon Property Group (NYSE: SPG) was cut to Peer Perform from Outperform at Wolfe Research, without a target price.
- Truist Financial (NYSE: TFC) was cut to Market Perform from Outperform at Raymond James, without a target price.
Initiations:
- Abbott Laboratories (NYSE: ABT) was initiated with an Outperform rating at Baird, which has a $121 target price for the stock.
- Kratos Defense and Security Solutions (NASDAQ: KTOS) was started with an Outperform rating at Wedbush, which has a $95 target price for the shares.
- Seadrill (NYSE: SDRL) was started with an Overweight rating at Capital One, with a $55 target price objective.
- Space Exploration Technologies (NASDAQ: SPCX) was initiated with an Outperform rating at Wedbush with a $190 target price.
- Starz Entertainment (NASDAQ: STRZ) was initiated with a Buy rating at B. Rilet, with a $45 target price.
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