Coinbase Gets Bullish Upgrade as Fed Uncertainty Shakes Markets: What It Means for Crypto

Pre-Market Futures

Futures are trading lower on Thursday as investors brace for a volatile Friday. Major indices hit new all-time highs on Wednesday but retreated in the afternoon after Fed Chairman Powell indicated that a December rate cut is not guaranteed. He emphasized that economic data between now and the December meeting will determine the need for further cuts. While the Fed did cut rates by 25 basis points yesterday, it was largely anticipated. The Dow Jones Industrial Average, S&P 500, and Russell 2000 closed lower, while the NASDAQ finished higher in anticipation of third-quarter results from mega-cap tech giants. Amazon.com (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL) are set to report after the close today. Alphabet Inc. (NASDAQ: GOOGL), Microsoft Inc. (NASDAQ: MSFT), and Meta Inc. (NASDAQ: META) reported after the close, with two of the three trading lower despite strong results.

Treasury Bonds

The Treasury complex saw significant declines on Wednesday as the Chairman downplayed the likelihood of a December rate cut. Yields rose across the curve after previously falling in anticipation of the Fed meeting. Record mortgage refinancing may slow as higher yields push mortgage rates up. The benchmark 10-year note closed at a 4.08% yield, up from recent levels below 4%.

Oil and Gas

After recent declines, West Texas Intermediate and Brent Crude ended Wednesday’s session higher at $60.38 and $64.86, respectively. Wall Street analysts are monitoring U.S. sanctions and their impact on global oil prices. Natural gas closed flat at $3.34.

Gold

Gold initially traded higher on Wednesday but reversed in the afternoon, closing slightly lower at $3,943. The market has been on edge since last week’s significant one-day drop. While profit-taking has caused concern as Gold enters correction territory, most analysts believe the long-term trend remains higher.

Crypto

Both Bitcoin and Ethereum ended the day nearly 3% lower, with Bitcoin falling to $110,679 and Ethereum closing at $3,917.

24/7 Wall St. reviews numerous analyst research reports daily to identify new ideas for investors and traders. Some calls highlight stocks to buy, while others suggest stocks to sell or avoid. Remember, no single analyst call should be the sole basis for buying or selling a stock.

Here are the top analyst upgrades, downgrades, and initiations for Thursday, October 30, 2025:

• Coinbase Global Inc. (NASDAQ: COIN) was raised to Buy from Neutral at HC Wainwright with a $425 target price.
• Comerica Inc. (NYSE: CMA) was raised to Inline from Sell at Evercore ISI with an $88 target price.
• Etsy Inc. (NYSE: ETSY) was raised to Buy from Hold at CFRA with an $88 target price objective.
• Extreme Networks Inc. (NASDAQ: EXTR) was raised to Outperform from Neutral at Oppenheimer, which has a $25 target price for the shares.
• FormFactor Inc. (NASDAQ: FORM) was raised to Buy from Hold at Citigroup, which has set a $62 target for the stock.
• Teradyne Inc. (NYSE: TER) was raised to Buy from Hold at Bank of America, which has a $205 target price objective.
• The Boeing Company (NYSE: BA) was cut to Hold from Buy at Deutsche Bank with a $240 target price.
• Fiserv Inc. (NYSE: FI) was cut to Hold from Buy at Goldman Sachs, which now has a $79 target for the stock.
• Meta Platforms Inc. (NASDAQ: META) was cut to Market Perform from Outperform at Oppenheimer with an $825 target price.
• Stubhub Inc. (NYSE: STUB) was started with a Neutral rating at Guggenheim with a $19 target price.
• Cisco Systems Inc. (NASDAQ: CSCO) was reinstated with a Buy rating at President Capital Management with a $90 target price.