UBS Global Wealth Management downgrades US stocks to neutral, stating that risk-reward has become more balanced.

UBS Global Wealth Management has downgraded its rating on U.S. stocks from "attractive" to "neutral," stating that the risk-return balance has become more balanced after a strong rebound from the April lows. The team led by Mark Haefele pointed out that uncertainty remains high, and investors' attention will shift towards the possibility of reaching a lasting trade agreement. "It is important to note that this is not a bearish view, nor a call to sell stocks, we recommend investors to maintain a full strategic allocation to U.S. stocks."