Hourly Market Review - Mar 1, 2024 10 AM
Stocks were mixed on Friday, with the Nasdaq Composite reaching a new closing record, its first since November 2021, after a 0.4% increase. The S&P 500 also rose by 0.3%, while the Dow Jones Industrial Average saw a marginal gain. The tech-heavy Nasdaq's record close was fueled by enthusiasm over artificial intelligence, which has boosted mega-cap tech stocks and the broader market throughout 2023. Additionally, slowing inflation and the Federal Reserve's expected pivot toward rate cuts later in 2024 have contributed to the Nasdaq's recovery from a challenging 2022.
On a weekly basis, the S&P 500 and Nasdaq are on track for their seventh positive week in the last eight, with gains of approximately 0.4% and 0.9%, respectively. In contrast, the Dow is down nearly 0.4%. For the month of February, the Nasdaq was the best performer with a 6.1% gain, followed by the S&P 500 with a 5.2% increase, and the Dow with a 2.2% rise.
Movers of the hour:
BioVie is up 115.32% at $2.68.
Sweetgreen is up 30.38% at $16.61.
The RealReal is up 29.99% at $2.30.
Cardiff Oncology is up 29.18% at $2.29.
Dell Technologies is up 27.37% at $120.52.
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.