Pre-Market Stock Futures:
Futures are trading lower, as the global semiconductor sell-off continues. We get ready to close out the first week of the second-quarter earnings season, which, for the most part, was very solid, with some of the big financials posting eye-popping results. That can’t be said for the major indices, which all closed Thursday lower, with the Nasdaq taking a pounding, down 1.31% at 25,923, as semiconductor stocks were once again the target of sellers. The S&P 500 finished the session down 0.54% at 7,532, while the Dow Jones Industrial Average, which started the day higher, finally succumbed to selling pressure and was last seen at 52,471, down 0.36%. The small-cap Russell 2000, which remains the leading index in 2026 and had its best first half in 35 years, closed at 2,970, down 0.21%.
Treasury Bonds:
Yields were higher across the Treasury curve as sellers stepped in, and only the very shortest T-bill maturities were flat or up modestly. With oil prices trending higher, the good inflation news we had this week may have just been a one-off event, as gasoline prices pushed inflation down, and those gasoline prices may be reversing as you read this. Once again, talk of rate increases also returned, and that is not the news Treasury traders want to hear. When the final bell rang, the 30-year-long bond closed at a 5.10% yield, while the 10-year note was last seen at 4.57%.
Oil and Gas:
For the first time this week, oil settled down, and both the major benchmarks finished the day lower. Traders noted that Crude oil prices fell on Thursday as geopolitical tensions in the Middle East eased somewhat, fueled by progress in indirect negotiations between the United States and Iran. The possibility of an interim agreement has raised hopes that the Strait of Hormuz could soon fully reopen. Brent Crude was last seen at $84.35, down 0.71%, while West Texas Intermediate finsihed the day at $79.07, down 0.67%. Natural gas also closed lower at $2.89, down 1.20%.
Gold:
Gold continued on a losing streak, as the precious metal had another difficult session. Traders noted that Gold has struggled to defend the key $4,000 support level, closing at its lowest settlement price since November 2025. Rising bond yields and a stronger U.S. dollar have eroded the appeal of non-yielding assets, such as precious metals, prompting investors to seek higher yields. Gold closed Thursday at $3,976, down 2.05%, while Silver ended the day at $55.36, down 2.30%.
Crypto:
Cryptocurrencies were volatile on Thursday as Bitcoin held the $64,000 level after pulling back from a recent monthly high, with combined outflows of approximately $59 million from Bitcoin and Ethereum as traders rotated into stablecoins. At the same time, most altcoins tracked Bitcoin lower. Notable artificial intelligence token MORPHO bucked the trend, rising 3.5% to test $2.00. At 8 AM EDT, Bitcoin was trading at $63,065, while Ethereum was trading at $1,835.
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 Friday July, 17, 2026.
Upgrades:
- Apple (NASDAQ: AAPL | AAPL Price Prediction) was upgraded to Buy from Hold at HSBC, with a $366 target price.
- Emerson Electric Company (NYSE: EMR) was upgraded to Overweight from Neutral at JPMorgan, with an unchanged target price of $157.
- Fervo Energy (NASDAQ: FRVO) Bank of America upgraded the shares to Buy from Neutral, while trimming the target price to $36 from $40. This was a recent IPO.
- SBA Communications (NASDAQ: SBAC) was upgraded to Overweight from Equal Weight at Wells Fargo, which trimmed the price target for the shares to $210 from $220.
- 3M Company (NYSE: MMM) was raised to Overweight from Neutral at JPMorgan, which nudged the target price for the stock to $180 from $178.
Downgrades:
- AGNC Investment (NASDAQ: AGNC) was cut to Neutral from Overweight at JPMorgan, which bumped the target price for the mortgage REIT to $12 from $11.
- Netflix (NASDAQ: NFLX) was downgraded to Neutral from Outperform at KGI Securities, with a $75 target price.
- Oneok (NYSE: OKE) was downgraded to Hold from Buy at Jefferies, which lowered the target price for the stock to $95 from $100.
- Option Care Health (NASDAQ: OPCH) was cut to Equal Weight from Overweight at Stephens, with a $24 target price.
- Sonic Automotive (NYSE: SAH) was downgraded to Neutral from Buy at Seaport Research, without a target price.
Initiations:
- Brinker International (NYSE: EAT) was initiated with an Overweight rating at Stephens, with a $220 target price.
- Dutch Bros. (NYSE: BROS) was started with an Overweight rating at Stephens, which has an $80 target price objective.
- HF Sinclair (NYSE: DINO) was started with an In Line rating at Evercore ISI, with an $85 target price.
- Jazz Pharmaceuticals (NASDAQ: JAZZ) was initiated with a Buy rating at Canaccord, which has set a $290 target price for the company.
- Moody’s (NYSE: MCO) was initiated with a Buy rating at Jefferies, with a $610 target price.
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