U.S. equities climbed on Thursday, with the S&P 500 briefly testing a record high 6,300 level at midday in New York, bolstered by strong earnings and upbeat retail sales data that reinforced investor risk appetite.
Before the US market kicks off on Thursday, let's examine the pre-market session and unveil the notable performers among the S&P500 top gainers and losers.
Financial services giant U.S. Bancorp (NYSE:USB) met Wall Street’s revenue expectations in Q2 CY2025, with sales up 2.4% year on year to $7.00 billion. Its GAAP profit of $1.11 per share was 3.9% above analysts’ consensus estimates.
Large-cap stocks have the power to shape entire industries thanks to their size and widespread influence.
With such vast footprints, however, finding new areas for growth is much harder than for smaller, more agile players.
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.
A highly volatile stock can deliver big gains - or just as easily wipe out a portfolio if things go south.
While some investors embrace risk, mistakes can be costly for those who aren’t prepared.
