Hourly Market Review - Mar 1, 2024 14 PM

The Nasdaq Composite reached an all-time high, surpassing its 2021 record, as investors favored megacap technology stocks amid expectations of slowing inflation and an artificial intelligence boom. The index rose 1.1%, with Nvidia and Meta among the top performers. The S&P 500 and Dow Jones also saw gains. The rally in tech stocks, driven by AI enthusiasm and anticipated Federal Reserve rate cuts, has led the Nasdaq to recover from a challenging 2022. Despite some concerns over market focus on tech and issues with New York Community Bancorp, the Nasdaq and S&P 500 are on track for their seventh positive week in the last eight, while the Dow lags slightly.

Movers of the hour:

Mmtec is up 96.16% at $2.55.  

Xponential Fitness is up 46.73% at $14.79.  

The RealReal is up 42.42% at $2.52.  

Cardiff Oncology is up 41.34% at $2.50.  

Envoy Medical is up 35.42% at $6.38.  

Here are the top stocks upgraded by Wall Street analyst:

Nvidia has received a rating of Strong Buy from Tigress Financial with target price increased to $985 from $790.

Salesforce has received a rating of Neutral from Piper Sandler with target price increased to $300 from $285.

General Electric has received a rating of Buy from Barclays with target price increased to $181 from $153.

The Tjx Companies has received a rating of Buy from Telsey Advisory Group with target price increased to $112 from $105.

Shopify has received a rating of Neutral from Goldman Sachs with target price increased to $75 from $67.

Equinix has received a rating of Buy from RBC Capital with target price increased to $950 from $855.

CrowdStrike Holdings has received a rating of Buy from JP Morgan with target price increased to $350 from $300.