Pre-Market Stock Futures:
Futures are trading higher as we prepare to wrap up one of the worst trading weeks in some time. The song remains the same as the rotation out of the tech trade continues to gain strength. Toss in the weakness in cryptocurrencies, along with a renewed skepticism towards the asset, and the most January layoffs since 2009, with a large number from the technology sector, and you had all the ingredients for a cauldron of sell now, and ask questions later. The major indices were down across the board on Thursday, with the Nasdaq leading the decline, down 1.6% to $22,540, while the S&P 500 was a close second, down 1.23% to 6,798, and now officially down for 2026. The Dow Jones Industrials finished the session down 1.20% at 48,908. The small-cap Russell 2000 fell 1.85% to 2,576.
Treasury Bonds:
Yields plunged across the Treasury curve as the stock and cryptocurrency sell-off has started to unnerve investors, who fear we could be on the verge of a significant stock market sell-off. The combination of a safe-haven destination for worried investors and a stronger dollar helped push prices higher on Thursday. The 30-year-long bond finished the day at 4.85%, down 7 basis points, while the benchmark 10-year note was last seen at 4.19%, down 9 basis points. It’s important to remember that when bond yields decline, bond prices move higher.
Oil and Gas:
Prices were down across the board in the energy complex, as the rapidly evolving situation with Iran and the oversupply issues remain at the forefront of the sector. Brent Crude closed down 2.76% at $67.54, while West Texas Intermediate ended trading on Thursday at $63.27, down 2.87%. Natural gas eked out a tiny gain, closing at $3.38, up 0.51%.
Gold:
After a strong rally earlier this week following gold’s collapse last week and over the weekend, sellers got some revenge on Thursday when gold fell back through the $5,000 level and finished the day down 3.38% at $4,795. The jobs data for January, along with a stronger U.S. dollar, plus the broad market rout that forced investors to liquidate assets, and continued profit-taking following recent record highs, all added a tailwind. Silver was also caught in the selling, and was hammered, down 18.25% to end at $72. Silver was trading at $121 on January 29th.
Crypto:
The Crypto markets saw a sharp, broad-based sell-off on Thursday, with Bitcoin diving to hit its lowest point in over a year. The top 10 coins all recorded losses, driven by a risk-off sentiment, regulatory concerns, and potential “death spiral” warnings. Yahoo Finance reported that the sell-off was fueled by Treasury Secretary Bessent’s statement that the government would not bail out crypto, fears of potential conflict with Iran, and the nomination of a “hawkish” candidate for Federal Reserve chair. At 8 AM EST, Bitcoin was trading at $66,460, while Ethereum was quoted at $1,919.
24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Friday, February 6, 2026.
Upgrades:
- JPMorgan Chase & Co. (NYSE: JPM | JPM Price Prediction) was upgraded to Hold from Reduce at HSBC with a $319 target price.
- Estee Lauder Companies Inc. (NYSE: EL) was upgraded to Buy from Neutral at Citigroup with a $120 target price.
- Roku Inc. (NASDAQ: ROKU) was raised to Outperform from Perform at Oppenheimer, with a $105 target price.
- Snap Inc (NYSE: SNAP) was upgraded to Hold from Sell at Stifel, with a $5.50 target price.
- Vistra Corp. (NYSE: VST) was upgraded to Buy from Neutral at Goldman Sachs, which bumped the price target for the stock to $205 from $200.
Downgrades:
- Amazon.com Inc. (NASDAQ: AMZN) was downgraded to Neutral from Buy at D.A. Davidson, which lowered the target price for the tech giant.
- Canada Goose Holdings Inc. (NYSE: GOOS) was cut to Underweight from Equal Weight at Barclays, which trimmed the target price for the stock to $10 from $12.
- Hub Group Inc. (NASDAQ: HUBG) was downgraded to Sell from Buy at Stifel, which slashed the target price for the stock to $27 from $52.
- Norfolk Southern Corp. (NYSE: NSC) was downgraded to Neutral from Buy at UBS, which actually raised the target price for the railroad giant to $342 from $320.
- Old Dominion Freight Line Inc. (NASDAQ: ODFL) was downgraded to Hold from Buy at Deutsche Bank with a $205 target price.
Initiations:
- Biohaven Inc. (NYSE: BHVN) was initiated with a Buy rating at Goldman Sachs with a $23 target price.
- Caterpillar Inc. (NYSE: CAT) was initiated with an Outperform rating at CICC with an $800 target price.
- JBS Inc. (NYSE: JBS) was initiated with a Buy rating at UBS with a $19.50 target price.
- Merit Medical Systems Inc. (NASDAQ: MMSI) was started with a Buy rating at BTIG with a $107 target price.
- Sempra (NYSE: SRE) was resumed with an Overweight rating at JPMorgan, which raised the target price for the stock to $98 from $85.
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