247Wallst·2026-02-04 13:00Market Overview - Stocks experienced a decline on Tuesday, with a notable rotation out of technology stocks being cited as a contributing factor. The Nasdaq fell by 1.43% to 23,255, while the S&P 500 decreased by 0.84% to 6,917. The Dow Jones closed at 49,230, down 0.43%, and the Russell 2000 was the only index to gain, closing up 0.31% at 2,648 [1]. Treasury Bonds - Treasury yields were mixed, with buyers favoring bonds with maturities of 5 to 30 years. The 30-year bond closed at 4.90%, and the benchmark 10-year note ended at 4.27%. The ISM Manufacturing PMI for January 2026 was reported at 52.6, indicating economic expansion [1]. Oil and Gas - Oil prices rose due to renewed geopolitical tensions and optimism regarding a new trade deal with India. Brent Crude finished at $67.89, up 2.4%, and West Texas Intermediate closed at $63.80, also up 2.4%. Natural gas prices increased by 4.17% to $3.37 [1]. Gold and Silver - Gold prices rebounded significantly, closing at $4,945, up 6.6%. Silver also saw gains, closing at $85.65, up 7.47%. This rebound followed a period of rapid selling, with many investors encouraged to "Buy the Dip" [1]. Cryptocurrency - The cryptocurrency market faced high volatility, with Bitcoin dropping to levels not seen since November 2024, falling to between $72,800 and $73,000, a decrease of over 6% at its lowest point. This sell-off was attributed to over $2.5 billion in leveraged position liquidations [1]. Analyst Upgrades - PayPal Holdings Inc. was upgraded to Neutral from Sell, with a target price reduced to $51 from $55 [1]. - Lumentum Holdings Inc. was raised to Buy from Neutral, with a target price increased to $526 from $147 [1]. - Devon Energy Corp. was upgraded to Overweight from Equal Weight, with a target price raised to $50 from $42 [1]. - Cloudflare Inc. was upgraded to Buy from Neutral, with a target price of $199 [1]. - Airbnb Inc. was upgraded to Outperform from Market Perform, with a target price of $160 [1]. Analyst Downgrades - Webster Financial Corp. was downgraded to Sector Perform from Outperform, with a target price adjusted to $75 from $72 [1]. - Transdigm Group Inc. was cut to Neutral from Outperform, with a target price reduced to $1,400 from $1,650 [1]. - Himax Inc. was downgraded to Equal Weight from Overweight, with a target price of $8 [1]. - Alpha Metallurgical Resources Inc. was cut to Neutral from Buy, with a target price of $203 [1]. - AES Corp. was downgraded to Equal Weight from Overweight, with a target price of $15 [1]. Analyst Initiations - Verastem Inc. was initiated with a Buy rating and a target price of $18 [2]. - SEI Investments Co. was started with a Buy rating and a target price of $115 [2]. - Levi Strauss & Co. was initiated with a Buy rating and a target price of $25 [2]. - Kontoor Brands Inc. was initiated with a Hold rating and a target price of $65 [2]. - CTO Realty Growth Inc. was initiated with an Overweight rating and a target price of $20 [2].