Pre-Market Stock Futures:
Futures are trading mixed after a solid mid-week session that saw all of the major indices finish the day higher. Another positive inflation print helped stocks along, as the Producer Price Index (PPI), which tracks wholesale costs, plummeted 0.3% in June, largely due to falling gasoline prices. While that was encouraging, it’s a good bet the number moves back higher in July, as energy prices have spiked amid the escalation of attacks between the United States and Iran. It’s important to remember the trailing and forward price-to-earnings ratios for the S&P 500; both are well above historical averages. The Nasdaq once again led the way on Wednesday, closing up 0.62% at 26,269, while the S&P 500 finished the session at 7,527, up 0.38%. The small-cap Russell 2000 closed at 2,975, up 0.37%, while the Dow Jones Industrials closed at 52,658, higher by 0.29%.
Treasury Bonds:
After the positive PPI number, bond buyers returned once again to grab rich coupons on U.S. debt, and yields across the curve were lower for all of the maturities. When the closing bell rang, the 30-year-long bond was last seen at 5.09%, while the benchmark 10-year note was quoted at 4.55%.
Oil and Gas:
As expected, despite the positive inflation print, energy prices traded higher again amid the escalation in hostilities, which is once again hindering traffic through the Strait of Hormuz. With Iranian ports near the Strait blockaded and missile strikes increasing, it’s a solid bet prices will continue to climb and likely erode the positive inflation numbers we saw this week when the July data is revealed next month. Brent Crude finished the day at $85.78, up 1.24%, while West Texas Intermediate was last seen at $80.31, up 1.22%. Natural gas followed suit, closing up 0.93% at $2.93.
Gold:
The precious metal closed mixed on Wednesday, as the uptick in military activity drew some buyers. When trading ended, Gold was quoted at $4,056, up 0.13%. Silver continued its losing ways, finishing the day lower by 0.98% at $57.84.
Crypto:
Cryptocurrencies traded higher on Wednesday, extending a broad rally sparked by cooler-than-expected U.S. inflation data. During the day, Bitcoin climbed around 0.5% to $64,900, while Ethereum added 2.9% to $1,929. At 8 AM EDT, Bitcoin was trading at $ 64,145, while Ethereum was quoted at $1,883.
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 top Wall Street analyst upgrades, downgrades, and initiations seen on Thursday, July 16, 2026.
Upgrades:
- Blackrock (NYSE: BLK | BLK Price Prediction) was upgraded to Overweight from Neutral at JPMorgan, which pushed the price target to $1,364 from $1,165.
- Flex (NASDAQ: FLEX) was raised to Buy from Hold at Freedom Capital, which bumped the target price for the shares to $150 from $144.
- Okta (NASDAQ: OKTA) was raised to Overweight from Equal Weight at Capital One, which boosted the target price to $171 from $126.
- Palo Alto Networks (NASDAQ: PANW) was raised to Overweight from Equal Weight at Capital One, which lifted the target price to $421 from $307.
- Rocket Companies (NYSE: RKT) was upgraded to Overweight from Equal Weight at Morgan Stanley, which nudged the price target to $19 from $18.
Downgrades:
- American Electric Power Company (NYSE: AEP) was downgraded to Neutral from Buy at Goldman Sachs, with a $147 target price.
- Cinemark Holdings (NYSE: CNK) was cut to Equal Weight from Overweight at Wells Fargo, which trimmed the target price for the stock to $31 from $36.
- Etsy (NYSE: ETSY) was downgraded to Neutral from Buy at BTIG, without a price target.
- Lululemon Athletica (NASDAQ: LULU) was downgraded to Sell from Hold at Truist Financial, and dropped the target price for the yoga fashion retailer to $94 from $115.
- Pentair (NYSE: PNR) was downgraded to Hold from Buy at Stifel, which slashed the target price for the shares to $65 from $103.
Initiations:
- Alphabet (NASDAQ: GOOGL) was assumed with an Outperform rating at Wedbush, with a $445 target price objective.
- Meta Platforms (NASDAQ: META) was assumed with a Neutral rating at Wedbush, with a $671 target price for the shares.
- Rambus (NASDAQ: RMBS) was initiated with a Buy rating at Benchmark, which has set a $165 target price.
- Space Exploration Technologies (NASDAQ: SPCX) was started with a Neutral rating at Piper Sandler with a $156 target price.
- Vertiv Holdings (NYSE: VRT) was initiated with an Outperform rating at Baird, with a $370 target price.
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