Stock Market Update
08-Jul-25 10:30 ET
Financials lag with key downgrades
Dow -150.83
at 44255.53,
Nasdaq -16.37
at 20396.15,
S&P -9.57
at 6220.41
[BRIEFING.COM] The major averages decreased slightly from their relatively flat opening, with the S&P 500 now down 0.2%.
Recent downgrades of key components has the financials sector (-0.8%) lagging the market in the early going.
- HSBC downgraded JPMorgan Chase (JPM 285.44, -6.53, -2.2%) to Reduce from Hold with a target of $259.
- HSBC downgraded Bank of America (BAC 47.49, -1.17, -2.4%) to Hold from Buy with a target of $51.
- HSBC downgraded Goldman Sachs (GS 699.92, -11.01, -1.6%) to Reduce from Hold with a target of $627.
