economy
Wall Street says sell Goldman, buy Capital One. Here's where we stand
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- The S&P 500 and Nasdaq closed June and the second quarter with significant gains, led by technology and semiconductor stocks.
- Goldman Sachs and Morgan Stanley were downgraded to sell-equivalent ratings by Oppenheimer, who believes investment banks have little room for upside.
- Jim Cramer disagrees with the downgrade of Goldman Sachs, highlighting its strong dealmaking and trading performance.
- Capital One received an outperform rating from Piper Sandler, with the analyst believing its acquisition of Discover Financial is not fully reflected in the stock price.
- Upcoming earnings reports include Nike, Constellation Brands, and General Mills, alongside key economic data releases such as job cuts and manufacturing indices.