Pre-Market Stock Futures:
Futures are trading higher after an incredible risk-on Tuesday that saw huge gains across all of the major indices. Hopes for a complete reopening of the Strait of Hormuz, blow-out numbers from Palantir Technologies (NASDAQ: PLTR | PLTR Price Prediction) and other high-profile companies, and once again, tumbling oil prices all combined to give a solid tailwind to a stock market that has traded range-bound for most of the summer. When the final bell rang, once again, the Nasdaq finished the day on top, up a stunning 2.59% at 26,584, while the S&P 500 set a new all-time high, finishing at 7,736, up 1.59%. The Dow Jones Industrials, which dropped 1,100 points last week, rose over 1,000 points at one point on Tuesday and closed at 54,085, up 1.71%. The small-cap Russell 2000 also had a strong day, finishing up 1.85% at 3,036. With second-quarter earnings winding down, Wall Street is taking a victory lap because, as of early August, a stunning 86% of S&P 500 companies have beaten earnings estimates, which blows past the five-year average of 77% and the ten-year historical average of 74%.
Treasury Bonds:
For the second day running, the buyers returned to the Treasury complex, and yields were down across the entire curve, as the highest yields in years continue to attract buyers and are likely forcing some shorts to cover their positions. The 30-year long bond finished the day at 5.17%, while the ten-year note was last seen at 4.62%.
Oil and Gas:
The announcement by Treasury Secretary Bessent that the Strait of Hormuz could be open in a few days was all it took for the sellers to show up, and they were out in full force on Tuesday. When trading wrapped for the day, Brent Crude was down 5.34% at $79.30, while West Texas Intermediate finished the session at $75.74, down 5.73%. Natural gas closed at $2.68, down 3.78%. Sector strategists were quick to point out that oil markets are pricing in an Iran deal that doesn’t yet exist.
Gold:
After a slow start to the week, precious metals caught a bid on Tuesday as falling oil prices, easing inflation concerns, and repositioning ahead of Friday’s labor data all helped push prices higher. Gold closed at $4,078, up 0.55%, while Silver was last seen at $59.66, up 2.31%.
Crypto:
24/7 Wall St. reviews dozens of analyst research reports every day to identify fresh investment ideas for investors and traders alike. These daily analyst notes include recommendations on stocks to buy, sell, or avoid, as well as new coverage initiations. Important reminder: No single analyst report should ever be the sole basis for buying or selling a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Wednesday, August 5, 2026.
Upgrades:
- Archer Daniels Midland Company (NYSE: ADM) was upgraded to Equal Weight from Underweight at Morgan Stanley, which raised the target price for the shares to $79 from $60.
- e.l.f. Beauty (NYSE: ELF) was raised to Outperform from Market Perform at Bernstein, with the price target raised to $113 from $60.
- Expeditors International of Washington (NASDAQ: EXPD) was upgraded to Neutral from Underweight at JPMorgan, which has a $200 target price.
- Humana (NYSE: HUM) was upgraded to Equal Weight from Underweight at Morgan Stanley, which raised the price target for the stock to $370 from $249.
- Kratos Defense & Security Solutions (NASDAQ: KTOS) was upgraded to Overweight from Neutral at Piper Sandler, with a $75 target price.
Downgrades:
- Ball (NYSE: BALL) was downgraded to Neutral from Overweight at JPMorgan, which bumped the price target up to $65 from $60.
- Best Buy (NYSE: BBY) was downgraded to Hold from Buy at Jefferies, which trimmed the price target on the stock to $85 from $89.
- Burlington Stores (NYSE: BURL) was downgraded to Neutral from Buy at Citigroup, with an unchanged $380 target price.
- TransDigm Group Incorporated (NYSE: TDG) was downgraded to Hold from Buy at Stifel, which cut the price target to $1,405 from $1,525.
- Vale (NYSE: VALE) was cut to Neutral from Buy at Bank of America, which trimmed the price target for the stock to $16 from $18.
Initiations:
- Alpha Teknova (NASDAQ: TKNO) was started with a Buy rating at Roth Capital, with a $7 target price.
- Ceco Environmental (NASDAQ: CECO) was initiated with a Buy rating at TD Cowen, with an $85 target price.
- Civeo (NYSE: CVEO) was initiated with a Strong Buy at Raymond James, with a $51 target price.
- Dell Technologies (NYSE: DELL) was initiated with a Buy rating at William O’Neil without a price target.
- MongoDB (NASDAQ: MDB) was reinstated with a Buy rating at William O’Neil without a target price.
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