Wall Street Analysts Downgrade S&P 500 Ratings on June 2, Buy-Rating Share Near 4-Year Low

According to Jin10, on June 2, Wall Street analysts downgraded ratings on S&P 500 constituent companies following two months of consecutive market gains. Research shows the share of buy-rated stocks in the broader Russell 3000 index has fallen to levels similar to four years ago, well below peaks seen during the internet bubble era.

Andrew Greenberg, senior vice president of equity research at Jefferies, stated: "I typically think about market sentiment from the perspective of whether there are more new buyers or sellers. Currently, the selling side has not shown signs of buying."