Pre-Market Stock Futures:
Futures are trading lower after a strong mid-week rally that saw all major indices close 1% or higher, following three consecutive ominous days. However, Walmart issued worse-than-expected guidance, and yields and oil are trading higher as we approach the long holiday weekend. Investors waited all day for the close in anticipation of Nvidia’s earnings, which came after the bell and exceeded expectations, which were largely priced in. All the major indices exploded higher in a solid relief rally yesterday. Falling oil prices and bond yields, along with strong earnings from some big-box retailers, were all cited as reasons for the mid-week blast off. While very positive, it’s important to remember that all of the major reasons for the recent selling are still in place. The small-cap heavy Russell 2000 led the way higher, closing up a massive 2.55% at 2,817, while the Nasdaq had a strong day, finishing the session up 1.55% at 26,270. The S&P 500 closed at 7,432, up 1.08%, and, last but not least, the Dow Jones Industrial Average closed at 50,009, up a solid 1.31%.
Treasury Bonds:
Yields plunged across the Treasury curve as bond traders snapped up some of the highest-yielding government debt in 20 years. When the dust settled, the yield on the 30-year-long bond dropped almost 6 basis points to 5.12%, while the benchmark 10-year note was last seen at 4.59%, down 8 basis points. For reference, 100 basis points equals 1%. While the lower rates were encouraging, it is unlikely there will be an interest rate cut until 2027.
Oil and Gas:
After a seemingly never-ending move higher, oil prices plunged on Wednesday as geopolitical tensions eased after President Trump announced that the U.S. was in the “final stages” of reaching a deal with Iran. That ignited a selling and short covering spree that consumers feeling the pinch at the gas pump will applaud. Brent Crude ended the day at $105.30, down 5.38%, while West Texas Intermediate closed the session at $98.26, down 5.66%. Natural gas, which has been on a roll, closed at $3, down 3.53%.
Gold:
The precious metals complex had everything in place on Wednesday for a move higher, and at the closing bell, Gold was printed at $4,543, up 1.38%, while Silver was last seen at $75.75, up 2.97%. Gold has been consolidating in a range-bound tunnel for months, and when the breakout comes, it could be massive.
Crypto:
Crypto markets traded cautiously higher on Wednesday, holding steady above key support levels while traders awaited the release of Federal Reserve minutes. Bitcoin hovered around $77,400, up approximately 0.7%, while Ethereum climbed about 1% to reach $2,130. Bitcoin continues to consolidate around the $77,000 mark following a pullback from its recent May high of $82,000. Falling futures open interest suggested traders were managing risk rather than heavily chasing the rebound. At 8 AM EDT, Bitcoin was trading at $77,150, while Ethereum was trading at $2,112.
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, May 21, 2026.
Upgrades:
- Ameren (NYSE: AEE) | AEE Price Prediction was upgraded to Overweight from Neutral at JPMorgan, with a $126 target price.
- ETSY (NYSE: ETSY) was upgraded to Buy from Hold at Argus, with a $67 target price.
- GE Healthcare Technologies (NASDAQ: GEHC) was upgraded to Neutral from Sell at UBS, which trimmed the target price to $69 from $75.
- Occidental Petroleum (NYSE: OXY) was upgraded to Neutral from Sell at Goldman Sachs, which raised the price target for the Warren Buffett favorite to $64 from $57.
- Petrobras (NYSE: PBR) was raised to Outperform from Neutral at Grupo Santander, with a $24 target price for the stock.
Downgrades:
- Golar LNG (NASDAQ: GLNG) was downgraded to Hold from Buy at Pareto, which has a $55 target price for the shares.
- Kyndryl Holdings (NYSE: KD) was downgraded to Neutral from Positive at Susquehanna, with a $13 target price for the shares.
- Mobileye Global (NASDAQ: MBLY) was downgraded to Hold from Buy at Berenberg, which bumped the price target on the shares to $10.80 from $9.30.
- Northern Oil & Gas (NYSE: NOG) was cut to Outperform from Strong Buy at Raymond James, which lowered the target price to $35 from $37.
- Zoominfo Technologies (NASDAQ: GTM) was downgraded to Hold from Buy at Jefferies, which slashed the price target to $4 from $12.
Initiations:
- DraftKings (NASDAQ: DKNG) was initiated with a Buy rating at Freedom Capital, with a $30 target price.
- MasTec (NYSE: MTZ) was started with an Outperform rating at CICC, with a $480 target price.
- Medtronic (NYSE: MDT) was reinstated with a Neutral rating at Goldman Sachs, which has an $84 target price for the stock.
- Quanta Services (NYSE: PWR) was initiated with an Outperform rating at CICC, with an $872 target price.
- Sailpoint (NASDAQ: SAIL) was started with a Buy rating at Roth Capital, which has a $19 target price for the stock.