🏦 Visa and Mastercard Downgraded by BAML, Prudential PLC's Price Target Lowered, JPMorgan Dipped as Lower Q2 Earnings Anticipated| Financials Sector Insights

Visa Inc and Mastercard Inc both received downgrades to Neutral by BAML, potentially impacting investor sentiment. JPMorgan Chase & Co is expected to report lower Q2 earnings with a key strategist departing, adding uncertainty for investors.

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Wednesday, July 10

XLF [-0.3%]
The Financial Select Sector SPDR Fund experienced significant movements in some of its top holdings. Visa Inc and Mastercard Inc both received downgrades to Neutral by BAML, potentially impacting investor sentiment. JPMorgan Chase & Co is expected to report lower Q2 earnings with a key strategist departing, adding uncertainty for investors. Additionally, the U.S. Federal Reserve's potential rule change could lead to substantial savings for major banks and has triggered lobbying efforts within the industry regarding regulatory concessions related to banking regulations such as Basel proposals.

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