Pre-Market Stock Futures:
The futures are trading modestly higher after a wild Wednesday that saw the Nasdaq explode higher to close at an all-time high of 24,016, up a hefty 1.60%, while the S&P 500 closed up 0.80% at 7,022, also hitting a brand-new all-time closing high. The small-cap Russell 2000, the leading index this year, finished the day at 2,713, up 0.30%, while the Dow Jones Industrial Average was the only loser, closing at 48,463, down 0.15%. Analysts cited more solid news on the war and positive earnings results from the mega-cap money-center banks and brokerage firms.
Treasury Bonds:
The sellers showed up on Wednesday as yields rose across the Treasury curve, and this was no surprise after the big rally in U.S. sovereign debt on Tuesday. With the prospect of interest rate cuts falling, Treasury Secretary Scott Bessent said that while he remains constructive on rate cuts in 2026, they may need to be moved out to later in the year. The 30-year-long bond closed Wednesday at 4.89%, while the benchmark 10-year note was last seen at 4.28%.
Oil and Gas:
After some heavy selling across the energy complex on Tuesday, the major benchmarks finished modestly higher on Wednesday. Brent Crude closed at $94.94, up 0.16%, while West Texas Intermediate closed virtually unchanged at $91.29. Natural gas closed the session at $2.61, up 0.41%
Gold:
After a big day on Tuesday for the precious metals, like oil and energy stocks, the sellers emerged on Wednesday, and prices for the top metals both closed lower. Gold was last seen at $4,790, down 1.03%, while the final trade for Silver was reported at $78.86, down 0.69%. The strength in the U.S. dollar was cited as a major reason for the decline, and profit-taking after the strong move over the last week was also a likely culprit.
Crypto:
The cryptocurrency markets saw a slight correction yesterday following some big early-week gains, with Bitcoin holding above $74,000. Despite volatility driven by geopolitical tensions, Bitcoin, Ethereum, and some other altcoins remained relatively stable. Needless to say, crypto traders and strategists are monitoring the Middle East, where tensions are influencing price movements, though Bitcoin and Ethereum remain up significantly since the conflict began. At 8 AM EDT, Bitcoin is trading at $74,440, while Ethereum is quoted at $2,333.
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 16, 2026.
Upgrades:
- Blackstone Mortgage Trust Inc. (NYSE: BXMT) was upgraded to Overweight from Neutral at JPMorgan, with a $21 target price for the shares.
- Bread Financial Holdings Inc. (NYSE: BFH) was upgraded to Equal Weight from Underweight at Morgan Stanley, with a $91 target price.
- Equitable Holdings Inc. (NYSE: EQH) was upgraded to Strong Buy from Market Perform at Raymond James, which has a $58 target price for the stock.
- Grupo Aeroportuario del Centro Norte SAB De CV (NASDAQ: OMAB) was raised to Buy from Hold at HSBC, with a $134 target price for the company.
- Okta Inc. (NASDAQ: OKTA) was upgraded to Outperform from Market Perform at Raymond James, which has an $85 target price.
Downgrades:
- Corning Inc. (NYSE: GLW | GLW Price Prediction) was downgraded to Neutral from Overweight at JPMorgan, which actually raised the target price for the fiber and display giant to $175 from $115.
- Federated Hermes Inc. (NYSE: FHI) was downgraded to Underweight from Neutral at JPMorgan, which nudged the price target to $56 from $55.
- GitLab Inc. (NASDAQ: GTLB) was cut to Neutral from Buy at UBS, which slashed the target price for the stock to $24 from $44.
- PayPal Holdings Inc. (NASDAQ: PYPL) was downgraded to Neutral from Outperform at Mizuho, which cut the target price for the stock to $50 from $60.
- Two Harbors Investment Corp. (NYSE: TWO) was downgraded to Underweight from Neutral at JPMorgan, which trimmed the target price for the stock to $11 from $12.50.
Initiations:
- Autoliv Inc. (NYSE: ALV) was initiated with a Buy rating at Bank of America, with a $140 price target.
- CoreWeave (NASDAQ: CRWV) was started with an Outperform rating at Wolfe Research, which has a $150 target price objective.
- Dicks Sporting Goods Inc. (NYSE: DKS) was initiated with a Buy rating at BTIG, which has a $300 target price for the retail giant.
- Equifax Inc. (NYSE: EFX) was initiated with an Overweight rating at Mizuho, which has a $222 target price for the shares.
- Pfizer Inc. (NYSE: PFE) was initiated with an Outperform rating at CICC, which has a $33 target for the healthcare giant.
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