Pre-Market Stock Futures
Futures are trading higher as we begin the first full trading week of the 4th quarter positively. All major indices ended up despite rising interest rates.
- Nasdaq: Closed at 27,477, up 1.05% (new record high).
- Russell 2000: Closed at 2,852, up 0.70%.
- S&P 500: Closed at 7,774, up 0.66%.
- Dow Jones: Closed at 51,268, up 0.18%.
Key Upcoming Data
- Third-quarter earnings from major banks start next week.
- Traders will watch jobless claims this Thursday, following the September non-farm payrolls report.
Treasury Bonds
- Yields were mixed; short and long ends saw higher rates while buyers favored the middle.
- 30-year bond: Closed at 5.67%.
- 10-year note: Last seen at 5.31%.
Oil and Gas
- Oil prices dropped due to increased global supply from Middle Eastern exports and G7 stock releases.
- Brent Crude: Closed at $99.94, down 2.26%.
- West Texas Intermediate: Last seen at $88.96, down 2.36%.
- Natural Gas: Closed up 0.96% at $3.06.
Gold
- Mixed results in the precious metals market as traders adjusted to updated interest rate expectations.
- Gold: Finished at $4,139, down 0.02%.
- Silver: Increased by 1.09% to $61.17.
Crypto
- Bitcoin and major cryptocurrencies showed volatility with significant early gains followed by sharp pullbacks.
- Bitcoin: Trading at $86,200.
- Ethereum: Quoted at $2,714.
Analyst Ratings
Upgrades:
- BorgWarner (NYSE: BWA): Upgraded to Overweight.
- Boyd Gaming (NYSE: BYD): Upgraded to Buy.
- JetBlue (NASDAQ: JBLU): Upgraded to Neutral.
- Procter & Gamble (NYSE: PG): Upgraded to Outperform.
- XP (NYSE: XP): Upgraded to Outperform.
Downgrades:
- Gentex (NASDAQ: GNTX): Downgraded to Sell.
- Goosehead Insurance (NASDAQ: GSHD): Downgraded to Neutral.
- Nike (NYSE: NKE): Downgraded to Sell.
- PTC (NYSE: PTC): Downgraded to Market Perform.
- RXO (NYSE: RXO): Downgraded to Hold.
Initiations:
- Lattice Semiconductor (NASDAQ: LSCC): Rated Outperform.
- Lockheed Martin (NYSE: LMT): Rated Buy.
- Northrop Grumman (NYSE: NOC): Rated Buy.
- Neurocrine Biosciences (NASDAQ: NBIX): Rated Buy.
- SPX Technologies (NASDAQ: SPXC): Rated Outperform.
For more detailed stock information and analysis, feel free to reach out for any inquiries.
