Pre-Market Stock Futures:
Futures are trading mixed after another tough day across Wall Street, with all the major indices crushed early on, before the Nasdaq made a late-afternoon push to wind up just modestly higher at 25,870, up 0.20%. The S&P 500 also rallied in the afternoon, erasing a big deficit, to finish the session down just 0.28% at 7,482. The small-cap Russell 2000, which is still the leading index in 2026, closed at 2,958, down 0.82%, while the Dow Jones Industrial Average took the biggest hit on Wednesday, closing at 52,348, down 1.09%. Needless to say, the re-escalation of the war with Iran once again provides ammunition for more volatility and the potential for another major move lower. Just as oil prices had almost returned to pre-war levels, the fighting resumed, as did the movement higher in the two major benchmarks. The President, like so many before him and around him, is well aware of the stalling tactics of Iran, but this time, the clock may have run out.
Treasury Bonds:
Once again, yields were higher across the entire Treasury curve except for the shortest T-bill maturities. The resumption of fighting and rising oil prices bring the rate increase narrative back into the room, especially after the June meeting notes showing that the Fed Governors are very divided on the path forward, and any increases in the inflation readings will likely keep that division in place. Plus, as history shows, if there is a rate increase, it likely won’t be just one, as that has never happened. The 30-year long bond finished the day at 5.07%, while the benchmark 10-year note closed at 4.58%.
Oil and Gas:
The minute the war with Iran was back on, so were the prices in the energy complex, as both of the major benchmarks closed the session higher. President Trump has halted any oil sales coming from Iran, while effectively closing the Strait of Hormuz once again. When the final bell rang, Brent Crude closed at $79.12, up a stunning 6.69%, while West Texas Intermediate was last seen at $74.61, up 5.92%. Natural gas closed down 1.26% to $ 3.22. One thing is for sure: Middle East oil producers are expanding pipelines and seeking alternative routes to move their production beyond the Straits.
Gold:
For thesecond day running, Gold traded lower on Wednesday, and the same reasons that drove price lower on Tuesday carried forward, as a stronger dollar and rising interest rates made the non-yielding Gold complex less desirable. Add in the inflation worries associated with higher energy prices, and precious metals end up on the losing side, at least for now. When the final bell rang on Wednesday, Gold closed at $4,074, down 0.73%, while Silver closed at $58.13, down 2.85%.
Crypto:
Crypto markets sold off on Wednesday amid heightened U.S.-Iran tensions and the collapse of the ceasefire, sparking a risk-off move.Bitcoin dropped to around $61,800, briefly breaking below the $62,000 level amid broader market weakness and rising oil prices.The decline triggered liquidations and weighed on major altcoins, with sentiment remaining cautious amid ongoing geopolitical uncertainty. At 8 AM EDT, Bitcoin traded at $62,610, while Ethereum traded at $1,741.
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 aresome of the best Wall Street analyst upgrades, downgrades, and initiations seen on Thursday, July 9, 2026.
Upgrades:
- American International Group (NYSE: AIG | AIG Price Prediction) was upgraded to Overweight from Neutral at Cantor Fitzgerald, which bumped the target price for the insurance giant to $92 from $85.
- American Tower (NYSE: AMT) was upgraded to Outperform from Peer Perform at Wolfe Research, which has a $188 target price.
- Cinemark Holdings (NYSE: CNK) was raised to Neutral from Sell at Goldman Sachs, which bumped the target price for the stock to $30 from $23.
- Five Below (NASDAQ: FIVE) was upgraded to Outperform from Neutral at Mizuho, which trimmed the price target for the popular retailer to $220 from $225.
- Toast (NYSE: TOST) was raised to Buy from Neutral at Goldman Sachs, which has set a $36 target price for the shares.
Downgrades:
- CaesarsEntertainment (NYSE: CZR) was cut to Equal Weight from Overweight at Barclays, which trimmed the target price for the gaming giant to $31 from $35.
- Kaiser Aluminum (NASDAQ: KALU) was cut to Underweight from Equal Weight at Wells Fargo, which bumped the target price down to $158 from $160.
- Salesforce (NYSE: CRM) was downgraded to Sector Weight from Overweight at KeyBanc, without a price target.
- Mattel (NYSE: MAT) Goldman Sachs downgraded the popular toy and game giant to Sell from Neutral, and dropped the price target to $12 from $15.
- Tractor Supply (NASDAQ: TSCO) was downgraded to Neutral from Outperform at Mizuho, which cut the target price for the stock to $32 from $50.
Initiations:
- Align Technology (NASDAQ: ALGN) was initiated with an Outperform rating at BMO Capital, with a $209 target price objective.
- Cohu (NASDAQ: COHU) was started with an Outperform rating at Baird, with a $65 target price.
- GE Healthcare Technologies (NASDAQ: GEHC) was initiated with a Market Perform rating at BMO Capital with a $70 target price.
- Intuitive Surgical (NASDAQ: ISRG) was initiated with an Outperform rating at BMO Capital, with a $518 target price.
- Tesla (NASDAQ: TSLA) was started with a Market Perform rating at Citizens, without a price target.
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