Futures are trading lower on Thursday as we prepare for a spooky Friday. The major indexes started the day by hitting new record highs on Wednesday, but sank in the afternoon after Fed Chair Powell suggested that a rate cut in December is not a given and that data between now and the December meeting will be used to assess the need for another cut. While the Federal Reserve cut rates by 25 basis points yesterday, it was largely already priced in. Both the Dow Jones Industrial Average, S&P 500 and Russell 2000 finished the day lower, while the tech-heavy NASDAQ finished higher in anticipation of big third-quarter results from mega-cap tech giants. Amazon.com (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL) will report after the close today. Alphabet Inc. (NASDAQ: GOOGL), Microsoft Inc. (NASDAQ: MSFT), and Meta Inc. (NASDAQ: META) reported after the close, with two of the three trading lower despite posting outstanding results.
The Treasury The complex took the biggest hit on Wednesday, when the president downplayed the possibility of a rate cut in December. Yields rose across the curve after declining in anticipation of the Federal Reserve meeting. Record mortgage refinancing may take a breather as higher yields push up mortgage rates. The benchmark 10-year bond closed the day with a yield of 4.08% after trading below 4% recently.
After a hard Within days, West Texas Intermediate and Brent Crude ended Wednesday’s session with gains of $60.38 and $64.86, respectively. Wall Street analysts are closely monitoring US sanctions and their impact on global oil prices. Natural gas closed the day flat at $3.34.
After initially Trading higher early on Wednesday, gold reversed in the afternoon and closed modestly lower at $3,943. The gold market has been on edge since last week, when gold posted its most significant daily drop in years. Most analysts admitted that while profit-taking has made some nervous as gold has fallen into correction territory, the long-term trend remains bullish.
Both Bitcoin and Ethereum ended the day almost 3% lower at the close, with Bitcoin falling to $110,679 and Ethereum closing at $3,917.
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here they are Top analyst upgrades, downgrades and initiations seen on Thursday, October 30, 2025.
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Coinbase Global Inc. (NASDAQ:COIN) was upgraded to Buy from Neutral at HC Wainwright with a price target of $425.
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Comerica Inc. (NYSE: CMA) was upgraded to Inline from Sell on Evercore ISI with a price target of $88.
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Etsy Inc. (NYSE: ETSY) was upgraded to Buy from Hold on CFRA with a price target of $88.
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Extreme Networks Inc. (NASDAQ: EXTR) was upgraded to Outperform from Neutral at Oppenheimer, who has a $25 price target on the stock.
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FormFactor Inc. (NASDAQ: FORM) was upgraded to Buy from Hold at Citigroup, which has set a $62 target for the stock.
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Teradyne Inc. (NYSE: TER) was upgraded to Buy from Hold at Bank of America, which has a price target of $205.
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The Boeing Company (NYSE: BA) was upgraded to Hold from Buy at Deutsche Bank with a price target of $240.
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Fiserv Inc. (NYSE:FI) was upgraded to Hold from Buy at Goldman Sachs, which now has a $79 target on the stock.
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Meta Platforms Inc. (NASDAQ: META) was cut to Market Perform from Outperform at Oppenheimer with a price target of $825.
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Stubhub Inc. (NYSE: STUB) started with a Neutral rating at Guggenheim with a $19 price target.
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Cisco Systems Inc. (NASDAQ: CSCO) was restored with a Buy rating at President Capital Management with a $90 price target.