--- title: "U.S. stock market update: HDFC Bank down 9.93%, analysts lower target price, earnings report concerns weigh on stock price" type: "News" locale: "en" url: "https://longbridge.com/en/news/293242928.md" description: "HDFC Bank fell 9.93%; NU Holdings rose 3.27%, with a transaction volume of USD 1.355 billion; JP Morgan fell 0.63%, with a transaction volume of USD 1.132 billion; Bank of America fell 1.09%, with a transaction volume of USD 910 million; HSBC fell 1.57%, with a market value of USD 340.2 billion" datetime: "2026-07-20T17:43:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293242928.md) - [en](https://longbridge.com/en/news/293242928.md) - [zh-HK](https://longbridge.com/zh-HK/news/293242928.md) --- # U.S. stock market update: HDFC Bank down 9.93%, analysts lower target price, earnings report concerns weigh on stock price **U.S. Stock Market Midday Update** HDFC Bank fell 9.93%. Based on recent key news: 1. On July 21, a FactSet survey showed analysts lowered the target price for HDFC Bank, leading to weakened market confidence. The median target price was reduced from 32.72 to 31.7, and the stock performance fell short of expectations, impacting the stock price decline. 2. On July 18, HDFC Bank released its quarterly financial report, showing a 5% year-on-year increase in net profit, but the market expressed concerns about its asset quality and regulatory risks, affecting the stock price. 3. On July 20, HDFC Life's sales through HDFC Bank channels resumed, easing competitive pressure, but failed to significantly boost the stock price. The banking sector's asset quality improved, and risks decreased. **Stocks with High Trading Volume in the Industry** NU Holdings rose 3.27%. Based on recent key news: 1. On July 20, discussions about Web3 Neobank attracted market attention. Jinse Finance pointed out that Web3 Neobank could become a new financial infrastructure, attracting investor interest in related technologies, driving up NU Holdings' stock price. 2. On July 20, the payment card issuance software market is forecasted to grow. According to a report by Research and Markets, the market size is expected to reach $5.04 billion by 2035, boosting investor confidence in fintech companies and promoting stock price increases. 3. On July 18, interest in low-priced stocks increased. NU Holdings was included in the low-priced stocks recommended by 24/7 Wall St., attracting investor attention and leading to a rise in stock price. The fintech industry is gaining attention, with significant capital inflow. JP Morgan fell 0.63%. Based on recent news: 1. On July 20, JP Morgan strategists noted that although AI-related stocks have been under pressure recently, strong earnings growth and valuation improvements are expected to rekindle demand, especially for semiconductor companies. This optimistic outlook did not immediately boost the stock price. 2. On July 20, Citigroup raised JP Morgan's target price from $325 to $360, showing market confidence in its future performance, but the stock price did not immediately reflect this positive change. 3. On July 20, JP Morgan increased its bullish position in CATL to 6.07%, indicating its continued optimism in the new energy sector, but overall market sentiment remains weak. Market expectations for AI and semiconductor sectors are diverging, with increased macroeconomic uncertainty. Bank of America fell 1.09%. Based on recent news: 1. On July 18, Bank of America announced an increase in its capital expenditure forecast for global super-large cloud service providers, expecting global AI data center capital expenditures to reach $851 billion by 2026 and further increase to $1.15 trillion by 2027. This news indicates that AI investment momentum continues to strengthen, boosting market confidence in tech stocks, but failed to support Bank of America's stock price 2. On July 20, data showed that despite a decline in gold prices, net long positions in the futures market remained at a high level. BNP Paribas pointed out that fund investors are using options strategies to hedge against downside risks, indicating that the market is not optimistic about a short-term rise in gold, which may affect investor confidence in financial stocks. 3. On July 20, EPFR data showed that technology stocks saw a record inflow of $48.8 billion over the past three weeks, reflecting exuberant market sentiment. However, money market funds experienced a historic outflow of $119.6 billion, reflecting concerns about liquidity risk, which may put pressure on financial stocks. Market sentiment is exuberant, with funds flowing into technology stocks, while financial stocks are under pressure. **Top stocks by industry market capitalization** HSBC fell 1.57%, with increased trading volume. Based on recent key news: 1. On July 20, HSBC warned of warning signals for risk assets, leading to increased market risk aversion and putting pressure on its stock price. The bank noted that the momentum liquidation effect is concentrated in the Asian market, triggering a wave of selling, particularly affecting the banking sector. 2. On July 18, HSBC received regulatory authorization from the Bank of England, becoming the first financial institution to deploy a digital asset platform in a digital securities testing environment. This move marks the practical verification of tokenized bond issuance and settlement, driving the stock price up. 3. On July 20, Goldman Sachs expected HSBC's second-quarter pre-tax profit to reach $10.2 billion, a year-on-year increase of 25% and a quarter-on-quarter increase of 2%, exceeding market expectations by 4%. The stock price benefited from declining credit costs and increased net interest income. The banking industry is facing increased risk aversion, with a focus on the development of digital assets ### Related Stocks - [HDB.US](https://longbridge.com/en/quote/HDB.US.md) - [NU.US](https://longbridge.com/en/quote/NU.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [BAC.US](https://longbridge.com/en/quote/BAC.US.md) - [HSBC.US](https://longbridge.com/en/quote/HSBC.US.md) ## Related News & Research - [HDFC Bank Limited Filed Its Form 20-F for the Year Ended March 31, 2026 on July 29, 2026 | HDB Stock News](https://longbridge.com/en/news/294200419.md) - [HDFC Bank Concludes Internal Review of MSRDC Deposit Arrangements, Penalizes Senior Executives](https://longbridge.com/en/news/293955566.md) - [HDFC Bank internal review of MSRDC deposit arrangement ends with ₹ 100,000 penalties for three senior executives](https://longbridge.com/en/news/293918039.md) - [HDFC Bank Stock Leads This India Watchlist as Volatility Tests Bank and Gas Shares](https://longbridge.com/en/news/293447971.md) - [HDFC Bank (NYSE:HDB) Issues Earnings Results, Beats Estimates By $0.01 EPS](https://longbridge.com/en/news/293238526.md)