Wall Street Analysts Adjust Ratings on Major Stocks

U.S. equities saw a midday decline, with inflation reports impacting the S&P 500, Dow Jones, and Nasdaq indices. Pfizer's shares dropped following a statement from former executives supporting current management amid pressure from activist investor Starboard Value. First Solar faced the largest decline in the S&P 500 due to lowered earnings expectations from Jefferies, while PayPal's stock fell after Bernstein's downgrade. Anticipation builds for the upcoming Q3 earnings reports from major banks, with a focus on how a recent cut in federal funds rates might influence business operations in 2025. Nvidia continues to be a standout, with record-breaking earnings driven by AI, while analysts debate whether it or Tesla presents a better long-term investment opportunity. The earnings season is expected to reveal insights into consumer trends and investment banking activity, critical for understanding market directions going forward.