Quick Read
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Alphabet dropped ~10% after hours on a revenue miss while Microsoft surged 3% on cloud strength, with Amazon results due after today's close.
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Morgan Stanley initiated Palantir with an Overweight rating and $262 target while Bank of America slashed Fortinet's target from $220 to $140.
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Bitcoin is on pace for its weakest October in six years, trading flat near $80,500 after the Fed held rates steady.
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Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and Microsoft didn't make the cut. Enter your email to see the names that beat MSFT. The report is free. Enter your email and see if any of your stocks made the cut.
Pre-Market Stock Futures:
Futuresare trading lower after a solid day for the stock market, as the interest-rate scenario played out as we (and most across Wall Street) predicted, with the Federal Reserve holding rates steady. If the inflation picture remains the same, burdened by higher energy costs, the Fed could raise rates by 25 basis points at its last 2026 meeting in December. All was well on Wednesday as all four major indices finished higher, with the small-cap Russell 200 leading the way, closing at 2,830, up 0.41%, while the S&P 500 closed at 7,743, up 0.28%. The Nasdaq closed at 26,549, up 0.27%, and the Dow Jones Industrial Average closed at 52,475, up 0.19%.
All eyeswill be on the Nasdaq today after Alphabet( NASDAQ: GOOGL ) missed revenue expectations and fell almost 10% in after-hours trading, while Microsoft Corporation( NASDAQ: MSFT ) posted strong cloud growth, beat earnings and revenue expectations, and rose 3% in after-hours trading. Traders will be anxiously awaiting Amazon.com's( NASDAQ: AMZN ) third-quarter results, which will be released after the close today.
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Treasury Bonds:
Yieldswere split across the yield curve, with buyers coming in on all maturities through the 5-year, while yields were higher across the upper belly and long end; the 30-year ended trading at 5.35%, and the 10-year note closed at 5.02%, up 5 basis points, its biggest one-day move in over a month.
Oil and Gas:
Prices werehigher across the energy complex as a result of the combination of more Houthi attacks directed at Saudi Arabia and a warning to Middle East countries to prepare for strong attacks against Iran after the midterm elections. When the final bell rang Wednesday, Brent Crude closed higher by 0.19% at $114.10, while West Texas Intermediate finished the session at $ 102.80, up 2.88%. Natural gas also had a strong day, closing at $3.03, up 0.93%.
Gold:
Preciousmetals had a solid day as the interest-rate scenario played out as expected. With tensions escalating again in the Middle East, the safe-haven trade, with gold as the leading beneficiary, remains in play. Gold closed at $4,066, up 0.17%, while silver last traded at $54.10, down 0.83%.
Gold istrading at the same level that it was this time last year. The chart looks messy, and if it breaks 4,000 and holds below that level on volume, trouble could follow. Conversely, if gold rallies strongly and breaks out above the downtrend line at $4,200-$4,300, it could move strongly toward the $5,000 level.
Crypto:
Cryptocurrencyprices were largely unchanged on Wednesday, posting minor gains earlier in the session before reversing course to track sideways following the Federal Reserve's interest rate pause. This sluggish price action underscores what is currently on pace to be Bitcoin's weakest October performance in six years. Bitcoin traded in a narrow range, rebounding from an overnight low of $80,330 to an intraday high of $81,547. By late afternoon, the asset settled flat, hovering within the $80,500–$81,000 range. At 8 AM EDT, Bitcoin was trading at $80,082, while Ethereum was quoted at $2,322.
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 aresome of the top Wall Street analyst upgrades, downgrades, and initiations from Thursday October, 29, 2026.
Upgrades:
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eBay( NASDAQ: EBAY ) was raised to Equal Weight from Underweight at Wells Fargo, which raised the target price for the stock to $106 from $91.
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Hilton Worldwide Holdings( NYSE: HLT ) was upgraded to Outperform from Neutral at Mizuho, with a $421 target price.
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Prosperity Bancshares( NYSE: PB ) was upgraded to Buy from Hold at StoneX, which has set an $85 target price.
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VF Corporation( NYSE: VFC ) was upgraded to Neutral from Underperform by BNP Paribas, which bumped the price target for the The North Face and Vans maker to $16 from $13.
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Wintrust Financial( NASDAQ: WTFC ) was upgraded to Buy from Neutral at UBS, which raised the target price for the shares to $180 from $160.
Downgrades:
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Alphabet( NASDAQ: GOOGL ) was cut to Market Perform from Outperform at Citizens, without a target price.
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Boston Scientific( NYSE: BSX ) was downgraded to Hold from Buy at Jefferies, which cut the target price for the shares to $45 from $60.
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Fortinet( NASDAQ: FTNT ) was downgraded to Neutral from Buy at Bank of America, which slashed the target price for the shares to $140 from $220.
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Lennox International( NYSE: LII ) was cut to Equal Weight from Overweight at Stephens, which has a $350 target price.
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XP( NYSE: XP ) was cut to Equal Weight from Overweight at Morgan Stanley, with a $23 target price.
Initiations:
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Fervo Energy( NASDAQ: FRVO ) was initiated with an Overweight rating at Morgan Stanley, with a $23 target price.
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Kardigan( NASDAQ: KARD ) was started with an Overweight rating at Cantor Fitzgerald, with a $50 target price.
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MSG Rangers( NASDAQ: MSGR ) was started with a Buy rating at BTIG, which has a $257 target price objective for the stock.
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Palantir Technologies( NASDAQ: PLTR) was initiated with an Overweight rating at Morgan Stanley, with a $262 target price.
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Rubrick( NASDAQ: RBRK ) was initated with an Overweight rating at Morgan Stanley, with a $155 target price.
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