Pre-Market Stock Futures:
Futures are trading higher after a solid start to August, with all major indices finishing higher on Monday. The President tapping the brakes on attacks on Iran and a return to the negotiating table, combined with massive technology earnings and tumbling oil prices, was just the ticket for traders and investors to start the week off with a bang. With school starting back soon and the summer holiday in the home stretch, volatility and trading volume are very likely to increase the minute the Labor Day weekend concludes. When the final bell rang on Monday, the tech-heavy Nasdaq was the big winner, closing up 2.10% at 25,913, while the S&P 500 also posted a strong day, closing up 1.5% at 7,600. The Dow Jones Industrial Average closed up 1.5% at 53,178, and the small-cap Russell 2000, which remains the top index for 2026, was last seen at 2,981, up 1.7%.
Treasury Bonds:
For the first time in a couple of weeks, yields were lower across the Treasury curve as buyers showed up for some of the biggest yields on the 10-20 and 30-year bonds in years. Falling oil prices and easing geopolitical concerns in the Middle East both contributed to the buying. It’s important to remember that the consumer and producer price index numbers for July will be released next week, and it’s a good bet they come in much higher than the June numbers. That could be the final straw for the Federal Reserve to lift rates by 25 basis points in September. The final print for the 30-year-long bond on Monday was posted at 5.23%, and the benchmark 10-year note was last seen at 4.68%.
Oil and Gas:
A pause in the war with Iran, and a return to negotiations, was all the energy complex had to hear on Monday, and the sellers came out with a vengeance. When all was said and done on Monday, the final print for Brent Crude came in at $83.74, down 4.61%, while West Texas Intermediate finished the session at $80.34, down over 5%. Natural gas was a winner on Monday, closing at $2.77, up 0.87%.
Gold:
Precious metals, after a mixed but volatile prior week, closed the day modestly lower, with Gold ending Monday at $4.051, down 0.08%, while Silver was last seen at $57.99, down 0.09%. Despite weakness in the dollar, the positive turn in the war, and lower oil prices, investors moved to other sectors on Monday.
Crypto:
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Tuesday, August 4, 2026.
Upgrades:
- BBB Foods (NYSE: TBBB) was upgraded to Buy from Neutral at UBS, which raised the price target to $51 from $43.
- Femsa (NYSE: FMX) was upgraded to Buy from Neutral at Bank of America, which lifted the target price for the stock to $150 from $125.
- Madrigal Pharmaceuticals (NASDAQ: MDGL) was upgraded to Outperform from Peer Perform at Wolfe Research, with a $605 target price.
- Replimune Group (NASDAQ: REPL) was raised to Outperform from Market Perform at Leerink, which bumped the price target to $17 from $11.
- Palantir Technologies (NASDAQ: PLTR) was upgraded to Buy from Hold at Deutsche Bank, with a $200 target price.
Downgrades:
- Apple (NASDAQ: AAPL) was downgraded to Hold from Buy at DZ Bank, which has a $310 target price for the stock.
- eBay (NASDAQ: EBAY) was cut to Market Perform from Outperform at Citizens, without a price target.
- Exxon Mobil (NYSE: XOM) was downgraded to Hold from Buy at DZ Bank, with a $156 target price objective.
- Intuit (NASDAQ: INTU) was downgraded to Hold from Buy at Truist Financial, which slashed the target price for the shares to $350 from $410.
- Nike (NYSE: NKE) was downgraded to Underweight from Neutral at JPMorgan, which trimmed the target price for the stock to $40 from $47.
Initiations:
- CoreWeave (NASDAQ: CRWV) was initiated with an Overweight rating at Piper Sandler, with a $151 target price.
- Nebius Group (NASDAQ: NBIS) was initiated with a Neutral rating at Piper Sandler, which has a $224 target price for the shares.
- Rubrick (NYSE: RBRK) was initiated with a Buy rating at Loop Capital, which has a $100 target price for the shares.
- SK hynix (NASDAQ: SKHY) was initiated with an Outperform rating at RBC Capital, with a $200 target. Stifel initiated coverage with a Buy rating and a $240 target, while RBC Capital initiated coverage with an Outperform rating and a $200 target. The stock was a recent U.S. IPO.
- Vishay Intertechnology (NYSE: VSH) was started with an Outperform rating at Raymond James, with a $40 target price.
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