Pre-Market Stock Futures:
Futures are trading lower once again after another up-and-down day on Wall Street. Once again, the rotation narrative rang out as software and chip stocks were hit hard, and in some cases, after posting solid fourth-quarter results. One headline screamed, “Hedge Funds made $24 billion shorting software stocks so far this year”. The Dow Jones Industrial Average posted a strong Wednesday amid tech market volatility, rising 0.53% to close at 49,501. The S&P 500 was lower for a second day, ending at 6,882, down 0.51%. The Nasdaq took the brunt of the selling, closing down 1.55% at 22,904. The Russell 2000, which has been strong so far this year, finished down 0.94% at 2,624.
Treasury Bonds:
Yields were mixed across the Treasury curve, with limited movement either way. The combination of mixed economic data and simmering geopolitical issues, which are never too far away, has kept most bond traders trying to stay nimble with maturities and duration. The 30-year-long bond closed the day at 4.92%, while the benchmark 10-year note was last seen at 4.28%.
Oil and Gas:
Oil prices surged again on Wednesday as concerns about the situation with Iran swung back toward dangerous. Some comments from the President directed at the Supreme Leader, plus a recent encounter where an Iranian drone was shot down by a U.S. fighter jet, have helped to ratchet the tensions back up. Brent Crude closed the day at $68.72, up 2.06%, while West Texas Intermediate was up 2% to close at $64.47. Natural gas also joined the party, closing up 4.54% at $3.46.
Gold:
As many on Wall Street expected after a massive sell-off, gold saw volatile trading, initially surging above $5,000 per ounce in early Wednesday trading before paring some gains. Prices were driven by opportunistic buying following the recent sharp declines and by ongoing safe-haven demand amid geopolitical tensions. The last trade for gold on Wednesday was reported at $4,963, while Silver closed at $88.07, up 3.58%.
Crypto:
The cryptocurrency market traded lower on Wednesday, with total market capitalization falling 2.3% to $2.66 trillion. The market was under pressure due to broader “risk-off” sentiment across global markets and increased scrutiny and debate over Bitcoin as a safe haven versus gold. Traders described the market as undergoing a “crisis of faith,” with BTC trading in lockstep with the Nasdaq, which was down more than 2%. At 8 AM EST, Bitcoin is trading at $69,331, while Ethereum is quoted at $2,057.
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 on Thursday, February 5, 2026.
Upgrades:
- FuboTV Inc. (NYSE: FUBO) was upgraded to Buy from Neutral at Seaport Research, which has a $3 target price.
- Jack Henery & Associates Inc. (NASDAQ: JKHY | JKHY Price Prediction) was upgraded to Outperform from Neutral at Baird, which bumped the target price for the stock to $205 from $200.
- DigitalOcean Holdings Inc. (NYSE: DOCN) was upgraded to Overweight from Neutral at Cantor Fitzgerald, which lifted the target price for the stock to $68 from $47.
- Snap Inc. (NYSE: SNAP ) was upgraded to Buy from Neutral at B.Riley, with a $10 target price.
- Zoom Communications Inc. (NYSE: ZM) was raised to Outperform from Peer Perform at Wolfe Research, which has a $115 target price.
Downgrades:
- Fox Corp. (NASDAQ: FOXA) was downgraded to Equal Weight from Overweight at Wells Fargo, which trimmed the target price for the company to $75 from $80.
- Microsoft Corporation (NASDAQ: MSFT) was downgraded to Hold from Buy at Stifel, which slashed the target price for the legacy software giant to $392 from $540.
- Public Storage Inc. (NYSE: PSA) was downgraded to Neutral from Buy at Bank of America, which lowered the target price for the shares to $310 from $336.
- Qualcomm Inc. (NASDAQ: QCOM) was cut to Neutral from Buy at Bank of America, which cut the target price for the shares to $155 from $215.
- Six Flags Entertainment Corp. (NYSE: FUN) was cut to Neutral from Buy at Citigroup, which lowered the target price for the theme park giant to $290 from $25.
Initiations:
- CAVA Group Inc. (NYSE: CAVA) was started with a Buy rating at Benchmark with an $80 target price.
- Coupang Inc. (NYSE: CPNG) was started with an Underperform rating at Berstein with a $17 price target.
- Incyte Corp. (NASDAQ: INCY) was initiated with a Buy rating at H.C. Wainwright with a $135 target price.
- Louisiana-Pacific Inc. (NYSE: LPX) was started with an Outperform rating at Oppenheimer with a $115 target price.
- Trinity Capital Inc. (NASDAQ: TRIN) was initiated with a Buy rating at Clear Street with an $18 target price.
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