S&P/ASX 200 Index (ASX: XJO) shares are skyrocketing, up 4.66% to 7,718.9 points at the time of writing.
In earlier trading, the benchmark index hit an intraday high of 7,842.9 points, up 6.34% as investors rushed to buy the dip.
New US reciprocal tariffs have caused chaos on global markets, including the ASX, this week.
Today, we woke to news that US President Donald Trump has given the world a 90-day reprieve.
During this time, most nations will be subject to the baseline 10% tariff only rather than the much higher individualised tariffs.
The President's trademark unpredictability sparked an incredibly strong US share market rebound overnight.
Meanwhile, brokers have been busy rerating many ASX 200 shares after considering the impact of the tariffs on individual companies.
On the CommSec trading platform, consensus ratings on scores of ASX 200 shares were changed on Monday and Tuesday.
Some ASX 200 shares have been upgraded, while others have been downgraded.
Among them are many ASX 200 large-cap shares, which tend to be popular with long-term income investors.
Let's take a look.
ASX 200 large-cap shares with ratings upgrades
Commonwealth Bank of Australia (ASX: CBA)
The CBA share price is $154.31, up 3.5% at the time of writing.
The consensus rating on CommSec has risen from a strong sell to a moderate sell.
The ASX 200 large-cap bank share has rocketed 31% over the past year.
Medibank Private Ltd (ASX: MPL)
The Medibank share price is $4.46, up 2.65% today.
The consensus rating on CommSec has lifted from a hold to a moderate buy.
Goldman Sachs issued a new note on Tuesday and described Medibank as a "defensive business".
It has a neutral rating on Medibank with a 12-month share price target of $4.40.
The ASX 200 large-cap financial share has risen 19% over the past year.
Origin Energy Ltd (ASX: ORG)
The Origin Energy share price is $10.10, up 3% at the time of writing.
The consensus rating on CommSec has dropped from a moderate buy to a hold.
Goldman Sachs issued a new note on Monday.
It has a neutral rating and a share price target of $10.30 on Origin.
The broker said:
Our commodity team see oil pricing pressure as one of the main impacts of the US reciprocal tariffs.
The team have cut oil forecast cumulatively by US$14/bbl over the past month, now expecting Dec25 Brent oil price at US$62/bbl.
We note Origin Energy as having the lowest exposure to oil price declines across our APAC upstream energy coverage …
The ASX 200 large-cap utilities share has lifted 6% over the past year.
ASX 200 large-cap shares with ratings downgrades
WiseTech Global Ltd (ASX: WTC)
The Wisetech share price is $84.71, up 7.4% at the time of writing.
The consensus rating on CommSec has dropped from a strong buy to a moderate buy.
On Monday, Goldman Sachs issued a new note recommending investors buy Wisetech shares.
The broker has placed a 12-month share price target of $128 on Wisetech.
The ASX 200 large-cap tech share is down 5% over the past year.
APA Group Ltd (ASX: APA)
The APA share price is $8.11, up 3.7% today.
The consensus rating on CommSec has fallen from a moderate buy to a hold.
The ASX 200 large-cap utilities share has dipped 5.5% over the past year.
Coles Group Ltd (ASX: COL)
The Coles share price is $20.64, up 0.05% today.
The consensus rating on CommSec has dropped from a moderate buy to a hold.
The ASX 200 supermarket share has risen 27% over the past year.
Meridian Energy Ltd (ASX: MEZ)
The Meridian Energy share price is $5.33, down 0.74% on Thursday.
The consensus rating on CommSec has been downgraded from a strong buy to a moderate buy.
The ASX 200 utilities stock has fallen 5.2% in the year to date.
