Shares of financial services giant Bank of America (NYSE:BAC) fell 3% in the afternoon session after analyst at HSBC downgraded the stock to "hold" from "buy.". The downgrade was primarily driven by valuation concerns, according to the HSBC analyst. This move comes amid broader market unease, as investors grapple with the potential economic impact of new tariffs on U.S. trade partners announced by President Trump. These tariffs, set to take effect on August 1, are creating uncertainty and weighing on the outlook for the banking sector.
Let's have a look at what is happening on the US markets in the middle of the day on Tuesday. Below you can find the top S&P500 gainers and losers in today's session.
Bank of America analyst Savita Subramanian flagged slowing tech sector profit growth as a potential headwind, however, other analysts seem to be more bullish ahead of the earnings season.
As the US market prepares to open on Tuesday, let's get an early glimpse into the pre-market session and identify the S&P500 stocks leading the pack in terms of gains and losses.
NHTSA said that it received 14 vehicle owner questionnaire reports and six death and injury reports under its Early Warning Reporting program describing failures of the Brake Transmission Shift Interlock (BTSI) system.
Warren Buffett has shifted his investment strategy, investing $459 million in Sirius XM after selling his stakes in Bank of America, JPMorgan Chase, and Wells Fargo.
The stocks in this article are all trading near their 52-week highs.
This strength often reflects positive developments such as new product launches, favorable industry trends, or improved financial performance.
