Alphabet cratered after hours while Microsoft soared, and now traders brace for Amazon’s results as analysts across Wall Street reshuffle their ratings on Palantir, Fortinet, Hilton, and a new geothermal energy play just entering the public markets.
Pre-Market Stock Futures:
Futures are trading lower after a solid day for the stock market, as the interest-rate scenario played out as we (and most across Wall Street) predicted, with the Federal Reserve holding rates steady. If the inflation picture remains the same, burdened by higher energy costs, the Fed could raise rates by 25 basis points at its last 2026 meeting in December. All was well on Wednesday as all four major indices finished higher, with the small-cap Russell 200 leading the way, closing at 2,830, up 0.41%, while the S&P 500 closed at 7,743, up 0.28%. The Nasdaq closed at 26,549, up 0.27%, and the Dow Jones Industrial Average closed at 52,475, up 0.19%.
All eyes will be on the Nasdaq today after Alphabet (NASDAQ: GOOGL | GOOGL Price Prediction) missed revenue expectations and fell almost 10% in after-hours trading, while Microsoft Corporation (NASDAQ: MSFT) posted strong cloud growth, beat earnings and revenue expectations, and rose 3% in after-hours trading. Traders will be anxiously awaiting Amazon.com’s (NASDAQ: AMZN) third-quarter results, which will be released after the close today.
Treasury Bonds:
Yields were split across the yield curve, with buyers coming in on all maturities through the 5-year, while yields were higher across the upper belly and long end; the 30-year ended trading at 5.35%, and the 10-year note closed at 5.02%, up 5 basis points, its biggest one-day move in over a month.
Oil and Gas:
Prices were higher across the energy complex as a result of the combination of more Houthi attacks directed at Saudi Arabia and a warning to Middle East countries to prepare for strong attacks against Iran after the midterm elections. When the final bell rang Wednesday, Brent Crude closed higher by 0.19% at $114.10, while West Texas Intermediate finished the session at $ 102.80, up 2.88%. Natural gas also had a strong day, closing at $3.03, up 0.93%.
Gold:
Precious metals had a solid day as the interest-rate scenario played out as expected. With tensions escalating again in the Middle East, the safe-haven trade, with gold as the leading beneficiary, remains in play. Gold closed at $4,066, up 0.17%, while silver last traded at $54.10, down 0.83%.
Gold is trading at the same level that it was this time last year. The chart looks messy, and if it breaks 4,000 and holds below that level on volume, trouble could follow. Conversely, if gold rallies strongly and breaks out above the downtrend line at $4,200-$4,300, it could move strongly toward the $5,000 level.
Crypto:
Cryptocurrency prices were largely unchanged on Wednesday, posting minor gains earlier in the session before reversing course to track sideways following the Federal Reserve’s interest rate pause. This sluggish price action underscores what is currently on pace to be Bitcoin’s weakest October performance in six years. Bitcoin traded in a narrow range, rebounding from an overnight low of $80,330 to an intraday high of $81,547. By late afternoon, the asset settled flat, hovering within the $80,500–$81,000 range. At 8 AM EDT, Bitcoin was trading at $80,082, while Ethereum was quoted at $2,322.
24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations from Thursday October, 29, 2026.
Upgrades:
- eBay (NASDAQ: EBAY) was raised to Equal Weight from Underweight at Wells Fargo, which raised the target price for the stock to $106 from $91.
- Hilton Worldwide Holdings (NYSE: HLT) was upgraded to Outperform from Neutral at Mizuho, with a $421 target price.
- Prosperity Bancshares (NYSE: PB) was upgraded to Buy from Hold at StoneX, which has set an $85 target price.
- VF Corporation (NYSE: VFC) was upgraded to Neutral from Underperform by BNP Paribas, which bumped the price target for the The North Face and Vans maker to $16 from $13.
- Wintrust Financial (NASDAQ: WTFC) was upgraded to Buy from Neutral at UBS, which raised the target price for the shares to $180 from $160.
Downgrades:
- Alphabet (NASDAQ: GOOGL) was cut to Market Perform from Outperform at Citizens, without a target price.
- Boston Scientific (NYSE: BSX) was downgraded to Hold from Buy at Jefferies, which cut the target price for the shares to $45 from $60.
- Fortinet (NASDAQ: FTNT) was downgraded to Neutral from Buy at Bank of America, which slashed the target price for the shares to $140 from $220.
- Lennox International (NYSE: LII) was cut to Equal Weight from Overweight at Stephens, which has a $350 target price.
- XP (NYSE: XP) was cut to Equal Weight from Overweight at Morgan Stanley, with a $23 target price.
Initiations:
- Fervo Energy (NASDAQ: FRVO) was initiated with an Overweight rating at Morgan Stanley, with a $23 target price.
- Kardigan (NASDAQ: KARD) was started with an Overweight rating at Cantor Fitzgerald, with a $50 target price.
- MSG Rangers (NASDAQ: MSGR) was started with a Buy rating at BTIG, which has a $257 target price objective for the stock.
- Palantir Technologies (NASDAQ: PLTR) was initiated with an Overweight rating at Morgan Stanley, with a $262 target price.
- Rubrick (NASDAQ: RBRK) was initated with an Overweight rating at Morgan Stanley, with a $155 target price.
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