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A stunning reversal in oil prices provided some momentum for stocks, as all major indices closed higher on Monday. West Texas Intermediate and Brent Crude both ended Monday lower after surging higher overnight. The stock market is still dangerously overbought even after the recent pullback, so investors still need to use extreme caution, as the Iran War fundamental issues have not changed yet.
Futures are trading higher as many across Wall Street breathed a semi-sigh of relief yesterday after oil futures, which shot up to $120 overnight, retreated below $100 on Monday. That was the biggest spike in oil pricing since 2020. With the retreat in the black gold, the major indices did a massive midday turnaround. Then, news hit the tape that President Trump is considering taking control of the Strait of Hormuz, which sent all the major indices higher. When it was all said and done, all four finished the day higher. The battered Nasdaq led the comeback, closing up 1.38% at 22,695, with the small-cap Russell 2000 in close pursuit, finishing the day up 1.13% at 2,556. The S&P 500 closed Monday at 6,795, up 0.83%, and the Dow Jones closed out the winners at 47,740, up 0.50%. While the rally was encouraging for investors who were hammered last week, it was likely driven by large-scale short covering, and we may still not be out of the woods.
Treasury Bonds:Yields were down across the Treasury curve except for the maturities of 1 year and shorter. Buyers returned to the belly of the curve and the longer-dated maturities, the same area that drew buyers on Friday. Surging global oil prices stoked inflation fears and raised the specter of stagflation, prompting investors to brace for prolonged high interest rates amid ongoing geopolitical tensions. The 30-year long bond closed Monday’s session at 4.72% while the benchmark 10-year note was last seen at 4.11%.
Once again, Wall Street remained laser-focused on oil pricing, and, as mentioned, after trading near $120 overnight, the quick return to $100 and lower was a huge boost for the stock market and equities in general following last week’s across-the-board selling. Brent Crude closed Monday at $90.91, down 1.92%, and the most important number for the American consumer was West Texas Intermediate, which closed down 4.13% at $87.15. Natural gas closed down 4.49% at $3.03.
After a strong close to last week, Gold took a breather on Monday. Traders and analysts covering precious metals noted on Monday that they were not alarmed by the recent volatility. Wall Street hasn’t pulled back its bullish targets, and many are framing the correction as a potential entry point, with the structural drivers behind gold’s rally seen as unchanged. Gold finished trading on Monday at $5,135, down 0.69%, while Silver ended Monday trading at $86.32, up 2.34%.
Cryptocurrencies showed notable strength Monday, with Bitcoin advancing amid rising oil prices and heightened geopolitical uncertainty. The late-day rally in the equity markets helped to push the total crypto market cap beyond $2.3 trillion. Ongoing short covering and some bargain-value buying helped provide a tailwind yesterday. At 8 AM EDT, Bitcoin was trading at $70,624, up 4.5% over the last 24 hours, while Ethereum was trading at $2,063.
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 Tuesday, March 10, 2026.
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