Pre-Market Stock Futures:
Futures are trading lower following President Trump’s decision to end the ceasefire with Iran. This comes after a dreadful Tuesday that saw all the major indices get clobbered, with the Nasdaq taking the biggest hit, closing down 1.16% at 25,772, as semiconductors, anything with an AI tailwind, or momentum names, all got hammered. The small-cap Russell wasn’t far behind, ending the day at 2,986, down 0.76%. The S&P 500 fared a little better, ending the session at 7,503, down 0.45%, while the legacy Dow Jones Industrial finished Tuesday the best, down 0.25% at 52,926. With the second-quarter earnings season starting next week, analysts will be closely watching not only the earnings results but also the forward guidance. It’s a good bet that those who deliver on both will hold serve, but if companies disappoint, there could be heavy selling as the market has run so far in the first half of 2026.
Treasury Bonds:
Sellers returned to the Treasury complex in a big way on Tuesday as yields surged higher across the entire curve except the shortest T-bill maturities. When the dust settled on Tuesday, the 30-year bond was last seen at 5.06%, and the benchmark 10-year note at 4.55%. Analysts and traders cited the Iranian attack on a tanker near the Strait of Hormuz and Amazon’s jumbo $25 billion bond sale as reasons for the selling on Tuesday.
Oil and Gas:
Needless to say, the attack on the tanker by Iran lit a fuse for buying among traders who were starting to worry about an oil glut, and are back to concerns about supply. That attack prompted the U.S. to halt Iranian oil sales, and when trading ended, Brent Crude closed 5.15% higher at $75.70, while West Texas Intermediate closed 5.05% higher at $72.01. Natural gas also joined the rally, closing at $3.26, up 0.55%.
Gold:
Gold was a somewhat surprising loser as the geopolitical atmosphere ramped up on Tuesday. Still, traders pointed to a stronger dollar, rising yields, and energy prices as the reasons for the return of sellers. When the final trade was posted, Gold closed at $4,111, down 1.26%, while Silver ended the session at $60.06, down 3.03%.
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 8, 2026.
Upgrades:
- Commercial Metals (NYSE: CMC | CMC Price Prediction) was upgraded to Outperform from Neutral at BNP Paribas, which has a $75 target price for the company.
- Dollar Tree (NASDAQ: DLTR) was upgraded to Neutral from Sell at Goldman Sachs, with a $155 target price
- Occidental Petroleum (NYSE: OXY) was upgraded to Outperform from In Line at Evercore ISI, which bumped the target price for the shares to $65 from $58.
- RH (NYSE: RH) was raised to Neutral from Sell at Goldman Sachs, which raised the target price for the stock to $155 from $86.
- Sabra Healthcare REIT (NASDAQ: SBRA) was upgraded to Buy from Hold at Truist Financial, with a $22 target price.
Downgrades:
- Alcoa (NYSE: AA) was cut to Equal Weight from Overweight at Morgan Stanley, which cut the price target for the aluminum giant to $53 from $79.
- HCA Healthcare (NYSE: HCA) was downgraded to Equal Weight from Overweight at Barclays, which slashed the target price to $179 from $238.
- Travelers Companies (NYSE: TRV) was downgraded to Market Perform from Outperform at Keefe Bruyette, which bumped the target price for the insurance giant to $356 from $342.
- Truist Financial Corporation (NYSE: TFC) was downgraded to Neutral from Buy at Bank of America, with a $56 target price.
- Vale (NYSE: VALE) was downgraded to Equal Weight from Overweight at Morgan Stanley, which dropped the target price to $16.50 from $19.50.
Initiations:
- DTE Energy Company (NYSE: DTE) was started with a Hold rating at TD Cowen, without a target price.
- PayPal Holdings (NASDAQ: PYPL) was initiated with an Underweight rating at Barclays, which has a $42 target price.
- Pinterest (NYSE: PINS) was initiated with a Buy rating at DA Davidson, with a $26 target price.
- Snap (NYSE: SNAP) was started with a Neutral rating at DA Davidson, with a $5 target price.
- Viking Holdings (NYSE: VIK) was initiated with an Outperform rating at BMO Capital, with a $115 target price.
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