Pre-Market Stock Futures:
Risk-on appeared back, at least for the last two days, as the stock market put together another rally on Wednesday, with hopes for an end to the war in Iran and some solid economic data teaming up to push stocks higher, though not at the frenetic level of Tuesday’s rally. However, the futures are trading lower as we get set to end a holiday-shortened trading week, after the President’s speech to the country apparently left many confused on the timing of the end of the fighting. All of the major indices finished the day higher, with the tech-heavy Nasdaq leading the way, closing up 1.16% at 21,840, while the S&P 500 closed at 6,575, up 0.72%. The small-cap Russell 2000, the only index up in 2026, finished the mid-week session at 2,515, up 0.78%, while the Dow Jones Industrial Average was last seen at 46,565, up 0.48%.
Treasury Bonds:
After a strong rally to start the week, yields were up across the Treasury curve, as many portfolio managers are likely to reset their portfolios amid the growing likelihood of no rate cuts this year. If inflation does spike, we could even see a rate hike later this year. The 30-year-long bond closed Wednesday’s trading at 4.91%, while the benchmark 10-year note finished the session at 4.33%.
Oil and Gas:
Oil prices were down on Wednesday, as the seemingly positive direction in the war with Iran, solid economic numbers, and many feeling the sector is overbought all contributed to the selling. Published reports we saw on Wednesday suggest that bearish bets on oil have risen to over $1 billion, with many traders using the ProShares UltraShort Bloomberg Crude Oil ETF. (NYSEArca: SCO) to place those bets. Brent Crude closed the Wednesday session at $100.70, down 3.15%, while West Texas Intermediate ended trading at $99.40, down 1.95%. Natural gas, which has had a tough stretch, closed down 2.53% at $2.81.
Gold:
The precious metals market followed suit again, trading in lockstep with the equity markets as Gold closed the day up 1.97% at $4,759, while Silver also finished higher, but barely so, at $75.09, up 0.12%.
Crypto:
Crypto markets surged on Wednesday as Bitcoin and other major digital assets climbed in the wake of the news reports suggesting a potential resolution to the Iran conflict. Easing geopolitical tensions drove oil prices lower, reducing demand for traditional safe-haven assets and prompting investors to turn to riskier plays. However, some analysts have cautioned that the rally was fueled more by growing leverage than by genuine spot buying, leaving the market vulnerable to a sharp reversal. And while optimism has crept back in, the broader mood has remained guarded, and many participants have noted that the lingering fallout from a recent stretch of “extreme fear” has yet to fully clear. At 8 AM EDT, Bitcoin was trading at $66,196, while Ethereum was quoted at $2,032.
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 Thursday, April 2, 2026.
Upgrades:
- Brinker International Inc. (NYSE: EAT) was upgraded to Overweight from Sector Weight at KeyBanc, which has a $177 target price for the Chili’s owner
- Martin Marietta Materials Inc. (NYSE: MLM) was raised to Buy from Neutral at B. Riley, with a $700 target price.
- Ollie’s Bargain Outlet Holdings Inc. (NASDAQ: OLLI) was raised to Buy from Hold at Jefferies, which raised the target price for the shares to $130 from $120.
- Vale SA (NYSE: VALE) was upgraded to Buy from Hold at Bank of America, which nudged the target price for the metal and mining giant to $19 from $18.
- Wingstop Inc. (NASDAQ: WING) was upgraded to Overweight from Neutral at Piper Sandler, with a $190 target price.
Downgrades:
- Akamai Technologies Inc. (NASDAQ: AKAM) was downgraded to Neutral from Outperform at Baird, with a $110 target price objective.
- Apellis Pharmaceutical Inc. (NASDAQ: APLS) was downgraded to Neutral from Buy at Roth Capital with a $41 target. Biogen is buying the company.
- Methanex Corporation (NASDAQ: MEOH) was downgraded to Sector Perform from Outperform at RBC Capital, which actually raised the target price for the stock to $65 from $55.
- Wix.com Ltd.(NASDAQ: WIX) was cut to Neutral from Buy at UBS, which slashed the target price for the stock to $96 from $145.
Initiations:
- AstraZeneca plc (NYSE: AZN) was assumed with a Buy rating at Goldman Sachs, with a $220 target price.
- CareTrust REIT Inc. (NYSE: CTRE) was initiated with an Outperform rating at Mizuho, with a $42 target price.
- e.l.f Beauty Inc. (NYSE: ELF) was started with an In-line rating at Evercore ISI, which has set a $68 target price for the popular cosmetics company.
- Freeport-McMoran Inc. (NYSE: FCX | FCX Price Prediction) was initiated with a Buy rating at Goldman Sachs, which has a $70 target price for the shares.
- Nutanix Inc. (NASDAQ: NTNX) was started with a Buy rating at Rosenblatt, which has set a $60 target price.
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