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Pre-Market Stock Futures:
Futures are trading lower as we start off the new week, as oil surges higher amid reports that a U.S. warship was turned back in the Strait of Hormuz, but what a start we had to the new month on Friday. The Thursday close on April’s last trading day marked the best month for the venerable S&P 500 index since 2020, and it finished at a new all-time high on Friday, closing at 7,230, up 0.29%. The Nasdaq also put in some strong work to end the week, finishing the session at 25,114, up 0.89%, while the small-cap-heavy Russell 2000 also represented, closing up 0.54% at 2,815. The only index that finished lower at the start of the month was the Dow Jones Industrial Average, which was last seen at 49,499, down 0.31%. Falling oil prices and the report that Iran had replied to the U.S. peace overtures were all noted as providing a tailwind for stocks on Friday, along with some massive numbers posted by some of the Magnificent 7.
Treasury Bonds:
Yields were mixed across the Treasury curve on Friday, with some buying on the long end and some sellers showing up for the belly of the curve. Inflation concerns and a strong dollar continue to draw much of the attention of fixed-income traders, and it became clear from the Federal Reserve’s April meeting messaging that interest rate cuts are not likely any time soon. The 30-year long bond closed trading Friday at 4.96% while the benchmark 10-year bond was last seen at 4.38%.
Oil and Gas:
Oil prices fell on Friday after it was reported that Iran had submitted a negotiation proposal to the United States. While it remains to be seen what the U.S. response will be, the fact that the two countries are still in discussions is a positive. As we have noted recently, many in the energy complex believe that even with a settlement, oil prices will remain higher than before the conflict. Brent Crude closed Friday at $108.70, down 1.54%, while West Texas Intermediate ended the day at $102.30, down 2.66%. Natural gas was the lone winner in the group, rising 0.80% to $2.79.
Gold:
Gold started the month off the way it ended April, closing 0.21% lower at $4,611. The precious metal has fallen a stunning 17.5% from its highs back in late January. Analysts cited inflation fears and the strengthening expectation that the Federal Reserve will keep interest rates higher for longer as reasons for Gold’s recent weakness. A stronger U.S. dollar and reduced safe-haven demand, despite geopolitical uncertainty, also pressured the non-yielding asset on Friday. The final trade for Silver on Friday came in at $75.33, up a solid 2.3%.
Crypto:
Cryptocurrencies jumped higher on Friday, with some major assets staging a recovery to reach their highest levels since early February. Like most other asset classes, crypto got a nice tailwind from lower oil prices and the potential for positive peace negotiations. The Friday rally prompted roughly $281 million in liquidations, with the majority ($216 million) stemming from short positions. At 8 AM EDT, Bitcoin was trading at $78,740 while Ethereum was quoted at $2,334.
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 Monday, May 4, 2026.
Upgrades:
- Airbnb (NASDAQ: ABNB) was upgraded to Outperform from Perform at Oppenheimer, with a $160 target price for the shares.
- Essex Property Trust (NYSE: ESS) | ESS Price Prediction was upgraded to Overweight from Neutral at Piper Sandler, which boosted the Dividend Aristocrats target price to $325 from $275.
- GlobalFoundries (NASDAQ: GFS) was raised to Overweight from Neutral at Cantor Fitzgerald, which boosted the price target for the shares to $80 from $50.
- International Paper (NYSE: IP) was upgraded to Overweight from Equal Weight at Wells Fargo, which nudged the price target for the shares to $39 from $38.
- Trade Desk (NASDAQ: TTD) was upgraded to Neutral from Underperform at Wedbush, which has a $23 target price.
Downgrades:
- Advanced Micro Devices (NASDAQ: AMD) was downgraded to Hold from Buy at HSBC, with a $340 target price objective.
- Alexandria Real Estate Equities (NYSE: ARE) was downgraded to Neutral from Outperform at Baird, which slashed the target price for the stock to $46 from $67.
- Alphabet (NASDAQ: GOOGL) was downgraded to Hold from Buy at Freedom Broker, which raised the target price for the technology giant to $400 from $365.
- Check Point Software Technologies (NASDAQ: CHKP) was downgraded to Neutral from Buy at Bank of America, which has a $120 target price for the stock.
- Prudential Financial (NYSE: PRU) was cut to Underweight from Equal Weight at Morgan Stanley, which lowered the price target for the company to $92 from $106.
Initiations:
- BeOne Medicines (NASDAQ: ONC) was initiated with an Overweight rating at Wells Fargo, with a $400 target price.
- Compass Pathways (NASDAQ: CMPS) was initiated with a Buy rating at Jefferies, with an $18 target price for the shares.
- Federal National Mortgage Association (OTCQB: FNMA) was initiated with an Outperform rating at Mizuho, which has a $10 target price.
- FirstService (NASDAQ: FSV) was initiated with a Hold rating at Loop Capital with a $140 target price.
- Postal Realty Trust (NYSE: PSTL) was started with an Outperform rating at Scotiabank, with a $24 target price.
