In this episode of Catalysts, Seana Smith and Madison Mills guide investors through some of the morning's prominent market trends, from continued presidential debate coverage to consumer sentiment data.

The June University of Michigan Consumer Sentiment Index reading was 68.2, exceeding estimates yet down from May's reading of 69.1. The Russell indexes are set for their annual reconstitution, scheduled to take place after Friday's closing bell. Indrani De, FTSE Russell's Head of Global Investment Research, joins the show to explain why the reconstitution will focus on the healthcare and tech sectors. In continued presidential debate coverage, Eurasia Group's Clayton Allen tells Catalysts hosts why it will take a call from within Biden's "family cellphone plan" to convince him to step out of the race.

On the trending tickers front, Rosenblatt Securities has downgraded Alphabet (GOOGL, GOOG) stock to Neutral from Buy and trimmed its price target, citing transitional risks and increasing competition. Shares of UnitedHealth Group (UNH) are also moving after the company's subsidiary, OptumRx Inc., a prescription drug benefit provider, agreed to a $20 million settlement after the US government claimed the provider improperly filled certain opioid prescriptions.

This article was written by Gabriel Roy