Pre-Market Stock Futures:
The futures are trading modestly higher as Thanksgiving Eve has finally arrived. After a slow start on Tuesday, all the major indices began to rally by noon and finished well in the green by the close. The initial downturn was sparked by news that Alphabet Inc. (NASDAQ: GOOG | GOOG Price Prediction) was in talks with Meta Platforms Inc. (NASDAQ: META) to sell them its custom AI chips. Google’s own specialized chips, called Tensor Processing Units (TPUs), are optimized for AI and machine learning workloads and are typically used in its own data centers. NVIDIA Inc. (NASDAQ: NVDA) was down almost 3% by the close on the news, which started the early selling, and while the rest of the indices recovered, the chip giant finished the day in the red. By the close, the Dow Jones Industrials led the way, up 1.43% to finish the session at 47,012; the S&P 500 closed at 6,765, up 0.91%; and the NASDAQ was last seen at 23,025, up 0.67%.
Treasury Bonds:
For the second day in a row, yields were down across the Treasury curve, and the song remains the same. Hopes for a rate cut, which had fallen to as low as 20% a few weeks ago, have jumped back to 80%, and there is some talk on Wall Street that a January cut could also be in the cards. Benign wholesale inflation data and a weakening job market are all aiding the push for continued rate cuts. Plus, amid speculation that White House National Economic Council Director Kevin Hassett may be the next Chairman of the Federal Reserve, many feel he would aggressively pursue lower interest rates to lower borrowing costs. The 30-year Treasury long bond closed the day at 4.66%, while the benchmark 10-year note closed at 4%.
Oil and Gas:
After a stellar day to start the week, prices across the energy complex were lower across the board. Reports that Ukraine has tacitly accepted terms for an end to the almost four-year war with Russia sent the black gold tumbling. Add in concerns over a supply glut, and that was all it took to bring the big benchmarks and natural gas down. Brent Crude closed at $62.47, down 1.42%, while West Texas Intermediate was last seen at $57.93, down 1.55%. Natural gas was also hit hard, closing at $4.39, down 3.5%
Gold:
Gold rose again on Tuesday as buyers and sellers remained evenly matched throughout the day. Analysts noted that if the U.S. dollar weakens and the Fed does cut rates next month, the year-long rally should continue into 2026. Again, the mild wholesale inflation numbers keep the rate cut scenario front and center. Gold closed the day at $4,130, up almost 1%.
Crypto:
On Tuesday, the crypto market had an early relief rally, with major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) rebounding from recent lows, only for the rally to fade by the afternoon. The upturn was initially driven by improving risk sentiment, an outstanding session in U.S. equities, and some easing of selling pressure, although the longer-term outlook remains cautious. At 4 PM EST, Bitcoin was trading at $87,260, while Ethereum was at $2,935.
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 Wednesday, Thanksgiving Eve, November 26, 2025.
Upgrades:
- DHL Group Inc.(OTCPK: DHLGY) was raised to Neutral from Sell at UBS with a U.S. dollar price of $49.20.
- Kymer Therapeutics Inc. (NASDAQ: KYMR) was reiterated with a Buy rating at UBS with a $90 target price.
- NetApp Inc. (NASDAQ: NTAP) Barclays reiterated an Overweight rating on the shares with a $134 target price.
- Nutanix Inc. (NASDAQ: NTNX) Barclays reiterated an Overweight rating on the stock with a $64 target price objective.
- Oracle Corp. (NASDAQ: ORCL) Deutsche Bank reiterated a Buy rating for the stock with a $375 target price.
- Snowflake Inc. (NYSE: SNOW) Citigroup reiterated a Buy rating on the shares and raised the target price to $310 from $275.
- Urban Outfitters Inc. (NASDAQ: URBN) Barclays reiterated an Overweight rating on the company with a $98 target price objective.
- Zscaler Inc. (NASDAQ: ZS) UBS reiterated a Buy rating on the shares and has a $340 target price objective.
Downgrades:
- Biohaven Inc. (NYSE: BHVN) was downgraded to Neutral from Buy at UBS with a $11 target price.
- Morgan Stanley Direct Lending Fund (NYSE: MSDL) Royal Bank of Canada downgraded the shares to Sector Perform from Outperform with an $18 target price.
Initiations:
- Ovintiv Inc. (NYSE: OVV) was initiated with an Outperform rating at William Blair with a $50 target price.
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