Stocks rallied yesterday as many feel that the weak ADP data that dropped Wednesday almost guarantees a rate cut next week.
Interest rate doves feel that a rate cut in January could be on the table if more weak economic data comes in.
With the major indices closing back in on all-time highs, we could see a retest of the recent selling.
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The futures are trading modestly higher on Thursday after a rollercoaster session on Wednesday, as stocks fell after the open on weak ADP data showing private-sector employment shed 32,000 jobs in November, the largest in 2-1/2 years. That didn’t last long, as bonds rallied on hopes of a rate cut next week amid the weak data, and stocks did a U-turn, heading higher by midday and never looking back. By the close, the Dow Jones Industrials finished higher by 0.96% at 47,928, while the S&P 500 rose 0.38% at 6,855, and the NASDAQ closed out the session at 23,468, a gain of 0.26%. The weak ADP data print almost assures that the Federal Reserve will lower rates by 25 basis points next week.
The weak ADP data also drove buyers into the Treasury market, as yields across the entire curve fell. Some bond market mavens feel that the weak data could push the Fed to cut rates not only next week but also follow up with another cut in January. Interest rate Hawks feel that cutting rates too far and too fast could trigger another wave of inflation, which has remained somewhat steady despite significant declines in energy prices. The 30-year long bond ended the day at a 4.73% yield, while the benchmark 10-year note was last seen at 4.06%.
Prices were higher across the energy complex on Wednesday as media reports indicated that the potential peace deal to end the Russia-Ukraine war was premature and no settlement has been agreed upon, as Russian President Vladimir Putin hurled some bellicose rhetoric towards European NATO members, threatening war. Brent Crude finished the day up 0.61% at $62.83, while West Texas Intermediate was last seen at $59.13, up 0.84%. Natural gas also had an excellent session, closing at $5.00, up a whopping 3.45%. We continue to feel the Nat gas trade could be huge. Our favorite stock remains EQT Corp. (NYSE: EQT)
Gold closed slightly higher on Wednesday as continued dollar weakness and a report showing central banks around the world bought a stunning 53 tonnes of Gold in October, the largest amount in 2025. The final print for Gold was posted at $4,207, while Silver, which has continued to move higher, was last seen at $56.97.
Crypto markets saw a strong rebound on Wednesday with primary tokens like Bitcoin and Ethereum posting solid gains, while the overall market capitalization rose by 7.4%. After a massive selloff in recent weeks, the crypto market saw a much-needed bounce on Wednesday. The CoinDesk 20 index rose 8% as many altcoins began to outperform Bitcoin. The total crypto trading volume increased, suggesting the move was backed by both spot buying and leverage trading. At 5 PM EST, Bitcoin was trading at $93,410 while Ethereum was last seen at $3,147.
24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Thursday, December 4, 2025.
Meta Platforms Inc. (NASDAQ: META) was upgraded to Buy from Neutral at Arete with a $718 target price.
BXP Inc. (NYSE: BXP) was raised to Overweight from Equal Weight at KeyBanc with an $80 target price.
Toast Inc. (NYSE: TOST) was raised to Overweight from Neutral at JPMorgan with a $43 target price.
UMH Properties, Inc. (NYSE: UMH) was raised to Buy from Neutral at Colliers which has a $17 target price for the stock.
AvalonBay Communities Inc. (NYSE: AVB) was downgraded to Neutral from Buy at Colliers with a $195 target.
Fiserv Inc. (NASDAQ: FISV) was cut to Neutral from Overweight at JPMorgan with an $85 target price.
Telefonica SA (NYSE: TEF) was downgraded to Underperform from Neutral at Bank of America, which cut the target price on the shares to $3.83 from $4.41.
Li Auto Inc. (NASDAQ: LI) was cut to Hold from Buy at HSBC with a $18.60 target price.
PayPal Holdings Inc. (NASDAQ: PYPL) was downgraded to Neutral from Overweight at JPMorgan with a $70 target price.
Salesforce Inc. (NYSE: CRM) was downgraded to Neutral from Buy at Fubon with a $270 target price.
ASP Isotopes Inc. (NASDAQ: ASPI) was started with on Overweight rating at Cantor Fitzgerald with a $13 target price.
AutoZone Inc. (NYSE: AZO) was started with an Outperform rating at Baird with a $4,500 target price objective.
Dover Corp. (NYSE: DOV) was initiated with a Neutral rating at BNP Paribas with a $195 price target.
Monday.com Inc. (NASDAQ: MNDY) was started with a Buy rating at Guggenheim with a $250 target price.
O’Reilly Automotive Inc. (NASDAQ: ORLY) was initiated with an Outperform rating at Baird with a $115 target price.
Parker-Hanifin Corp. (NYSE: PH) was started with an Outperform rating at BNP Paribas with a $1,020 target price objective.
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