Equities face pressure from rising energy costs and bond yields, while gold and silver rally as investors seek safe-haven assets ahead of critical producer price index reports.
NVIDIA was initiated with an Overweight rating by Piper Sandler with a $300 price target. The stock is also highlighted as a top investment pick in 24/7 Wall St.'s latest research report.
Piper Sandler set a price target of $300.
JPMorgan upgraded Meta Platforms to Overweight from Neutral, significantly raising the price target to $820 from $640, reflecting increased confidence in the company's outlook.
It was upgraded to Overweight from Neutral by JPMorgan.
Piper Sandler initiated coverage on Advanced Micro Devices with an Overweight rating and a $60 price target, signaling a positive outlook from the firm.
Piper Sandler set a price target of $60.
Brent crude surged 3.76% to $101.60 per barrel as geopolitical tensions in the Persian Gulf escalated due to increased Iran-related attacks. This energy price spike is contributing to broader market volatility and concerns over inflation.
The rise is driven by heightened conflict in the Persian Gulf involving Iran.
It closed at $101.60.
Gold rose 1.06% to $4,400 as investors sought safe-haven assets amid geopolitical instability and sustained central bank demand. Goldman Sachs maintains a bullish outlook with a $4,900 year-end target.
Goldman Sachs has a year-end target of $4,900.
It closed at $4,400, up 1.06%.
Bitcoin demonstrated resilience, rising to approximately $79,700 by tracking gold's safe-haven behavior rather than the falling equity markets. Leveraged long positions remain firm, reflecting investor confidence that the asset can withstand current macro shocks.
Bitcoin is tracking gold's performance rather than falling equities, showing resilience.
It was trading at approximately $77,810 as of 8 AM EDT.
Ethereum is trading in a mixed-to-defensive environment, quoted at $2,459, as the broader crypto market navigates the impact of rising oil prices and upcoming inflation data.
Ethereum is quoted at $2,459.
Freedom Broker upgraded Caterpillar to Buy from Hold, setting a $980 price target, as the company continues to be viewed favorably by analysts.
Caterpillar was upgraded to Buy from Hold.
JPMorgan initiated coverage on SK hynix with an Overweight rating and a $245 price target, reflecting a bullish stance on the company's prospects.
JPMorgan set a price target of $245.
Major indices retreated as Brent crude surged past $100 per barrel following escalating conflict in the Persian Gulf. Investors are bracing for upcoming inflation data, which could solidify expectations for a Federal Reserve rate hike next week. Despite the broader market sell-off, precious metals and select tech stocks saw bullish momentum.
The escalation in the Persian Gulf has pushed Brent crude above $100 per barrel, fueling inflation concerns and increasing the likelihood of a Federal Reserve rate hike.