Stocks Bounce Back, Analysts Upgrade Key Names Amid Interest-Rate Reversal

The stock market recovered from a wild Thursday session, with major indices finishing the day positive. The small-cap Russell 2000 had the best day, closing at 2,807, up 0.39%, while the Dow Jones Industrial squeezed out a victory, closing at 50,927, up 0.04%. The rally was attributed to an interest-rate turnaround, which eased the selling pressure on Treasury bonds. The 30-year bond closed the session at 5.61%, while the 10-year note was last seen at 5.24%.

Cryptocurrency markets traded modestly higher on Thursday, recovering from an early morning slump. Market sentiment was boosted by a bullish institutional report from Citigroup, which raised its 12-month forecasts for major digital assets. The report contributed to the rally, with Bitcoin trading at $86,520, and Ethereum at $2,749.

Wall Street analysts upgraded several stocks, including Abbott Laboratories, which was bumped to Buy from Neutral at Rothschild & Co Redburn, with a target price of $127. Airbnb was also upgraded to Overweight from Sector Weight at Keybanc, with a target price of $191. Cerebras Systems was upgraded to Buy from Hold at Freedom Capital, with a target price of $209.