Pre-Market Stock Futures:
Futures are trading higher on Tuesday as traders anxiously await more positive earnings reports after a lower day on Wall Street, as chip stocks rebounded somewhat, and Iran, after 9 straight nights of U.S. attacks, had its foreign ministry indicate that discussions could be pursued further. That is a good idea, given that the Iranian government had also told citizens to limit their electricity use. When the smoke cleared on Monday, all four of the major indices closed lower. The Nasdaq closed at 25,508, down 0.05%, while the Dow Jones Industrial Average closed the session at 51,839, down 0.59%. The S&P 500 closed at 7,443, down 0.19%, while the small-cap Russell 2000 was the biggest loser, last seen at 2,942, down 0.67%. With earnings season now in full swing, all eyes will not only be on earnings but also on forward guidance. Any ambiguity in either could spell trouble for the reporting company.
Treasury Bonds:
Yields were up across the Treasury curve, with the only buying in the shortest T-bill maturities. The mixed messages from Iran, along with the continued rise in oil prices, sparked renewed concerns about inflation. When trading ended, the 30-year bond closed at 5.11%, while the 10-year note closed at 4.59%.
Oil and Gas:
Prices were higher across the energy complex, but not the drastic spike we saw there last week. The ongoing hostilities with Iran are the biggest fly in the ointment, with Iran launching strikes on its neighboring Arab countries, also helping to push prices higher. Brent Crude closed the session at $88.97, up 0.99%, while West Texas Intermediate closed the day at $82.45, up 0.82%.
Gold:
Precious metals were mixed as we opened the trading week. The ongoing geopolitical pressure and rising interest rates kept the bullion in check, as Gold closed the day at $4,005, down 0.60%, while Silver finished the day positive at $56.25, up 0.77%
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 top Wall Street analyst upgrades, downgrades, and initiations seen on Tuesday, July 21, 2026.
Upgrades:
- Five Below (NASDAQ: FIVE | FIVE Price Prediction) was upgraded to Outperform from Market Perform at Bernstein, which nudged the target price for the popular retailer to $250 from $247.
- Fortinet (NASDAQ: FTNT) was raised to Equal Weight from Underweight at Morgan Stanley, which boosted the target price for the shares to $133 from $80.
- Goldman Sachs Group (NYSE: GS) was upgraded to Hold from Reduce at HSBC, with a $995 target price.
- Ralph Lauren (NYSE: RL) was upgraded to Outperform from Market Perform at Raymond James, with a $410 target price for the clothing and fragrance giant.
- UDR (NYSE: UDR) was upgraded to Buy from Hold at Deutsche Bank, which bumped the target price to $45 from $39.
Downgrades:
- Adobe (NASDAQ: ADBE) was downgraded to Underweight from Equal Weight, which slashed the target price for the stock to $240 from $365.
- Apple Hospitality REIT (NASDAQ: APLE) was downgraded to Equal Weight from Overweight at Barclays, which bumped the target price for the stock to $17 from $16.
- Datadog (NASDAQ: DDOG) was cut to Hold from Buy at Jefferies, which actually raised the target price for the shares to $280 from $210.
- Gilead Sciences (NASDAQ: GILD) was downgraded to Market Perform from Outperform at Leerink, which cut the target price on the biotech giant to $127 from $146.
- Salesforce (NYSE: CRM) was cut to Equal Weight from Overweight at Morgan Stanley, which crashed the target price for the shares to $185 from $287.
Initiations:
- American Healthcare REIT (NYSE: AHR) was initiated with a Buy at Compass Point, with a $70 target price.
- Insmed (NASDAQ: INSM) was initiated with an Outperform rating at BMO Capital, with a $192 target price.
- Ligand Pharmaceutical (NASDAQ: LGND) was resumed with a Buy rating at Citigroup, which has a $387 target price for the stock.
- Microsoft Corporation (NASDAQ: MSFT) was assumed in coverage with an Overweight rating at Morgan Stanley, which has a $600 target price for the legacy software giant.
- Stewart Information Services (NYSE: STC) was initiated with a Buy rating at Benchmark, which has an $87 target price.
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