Hourly Market Review - Mar 4, 2024 10 AM

The Dow Jones Industrial Average slightly retreated by 0.2% as traders paused after recent rallies that brought major U.S. stock benchmarks to record highs. The S&P 500 and Nasdaq Composite also experienced slight declines. Apple's shares fell over 2% due to a nearly $2 billion EU antitrust fine for misusing its market dominance in music streaming. Lyft shares rose almost 6% after an upgrade by RBC, while Super Micro Computer and Deckers Outdoor saw significant gains following their announcement to join the S&P 500. JetBlue's shares increased slightly, but Spirit Airlines' shares dropped over 12% as they ended plans to merge following a federal antitrust lawsuit. Stocks have been rising, fueled by enthusiasm around artificial intelligence, with the Nasdaq Composite reaching an all-time high. Investors are now awaiting updates on monetary policy from Federal Reserve Chair Jerome Powell and looking forward to economic data releases, including the ADP Employment Survey, job openings data, and nonfarm payrolls.

Movers of the hour:

BitFuFu is up 178.84% at $17.91.  

Critical Metals is up 32.08% at $13.21.  

The E. W. Scripps is up 24.47% at $4.69.  

BigBear.ai Holdings is up 23.98% at $4.29.  

Akero Therapeutics is up 19.72% at $33.30.  

Here are the top stocks upgraded by Wall Street analyst:

Eli Lilly has received a rating of Strong Buy from B of A Securities with target price increased to $1000 from $800.

Broadcom has received a rating of Buy from Oppenheimer with target price increased to $1500 from $1100.

General Electric has received a rating of Buy from RBC Capital with target price increased to $170 from $148.

The Tjx Companies has received a rating of Neutral from UBS with target price increased to $104 from $95.

The Toronto-Dominion Bank has received a rating of Neutral from BMO Capital with target price dropped to $81 from $86.

Micron Technology has received a rating of Strong Buy from Mizuho with target price increased to $105 from $100.

Dell Technologies has received a rating of Buy from Bernstein with target price increased to $120 from $90.