**Markets Rebound After Steep Drop, Futures Point Higher**

Stock futures are climbing Thursday morning after a strong bounce-back session on Wednesday. This comes just one day after Wall Street experienced its worst single-day drop since October. Early in the day, stocks were down, but sentiment shifted dramatically after President Trump addressed the World Economic Forum in Davos. When he clarified that the U.S. has no plans to use military force in relation to Greenland, investor nerves calmed and markets rallied into the close.

Here’s how the major indexes ended the day:

– **Dow Jones Industrial Average** surged 1.21% to 49,077
– **S&P 500** rose 1.1% to 6,875
– **Nasdaq Composite** gained 1.18%, closing at 23,224
– **Russell 2000**, which tracks small-cap stocks and is leading all major indexes in 2026 with a year-to-date gain of 6.1%, jumped 2% to finish at 2,698

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**Treasury Yields Show Mixed Movement**

The bond market saw mixed action following two days of intense selling that pushed yields to multi-month highs. Short-term Treasury bills continued facing pressure from sellers, while demand returned for longer-term notes and bonds. The easing of geopolitical concerns helped stabilize the market.

– **10-year Treasury yield** settled at 4.25%
– **30-year Treasury bond** closed at 4.87%

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**Energy Prices Up—Natural Gas Soars**

Energy markets moved higher overall, but natural gas stole the spotlight with a huge price spike.

– **Natural gas** skyrocketed by nearly 25% to $4.88, marking a two-day jump of almost 50%. This sharp rise was fueled by:
– Traders covering short positions
– A powerful winter storm moving in from Canada
– Rising demand from data centers supporting AI and cloud computing

Meanwhile, oil prices also edged up:

– **Brent Crude** rose 0.59% to $65.30
– **West Texas Intermediate (WTI)** increased 0.43% to $60.62

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**Gold Keeps Climbing, Silver Stalls**

Gold prices continued their upward trend, driven by ongoing global uncertainties, strong central bank buying, and retail investor interest.

– **Gold** closed at $4,831, up 1.45%
– **Silver**, however, remained flat at $92.61 as it struggles near the key $100 level

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**Cryptocurrencies Drop Amid Global Tensions**

Crypto markets pulled back sharply as growing tensions between the U.S. and Europe triggered risk-off sentiment among investors. The drop highlights how sensitive digital assets remain to global economic shifts.

– **Total crypto market cap** fell by about 2.4% to $3.1 trillion
– Most top tokens saw losses—92 out of the top 100 coins were in the red
– **Bitcoin** was trading at $89,945 as of 8 a.m. EST
– **Ethereum** was at $2,985

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**Top Stock Analyst Ratings for January 22, 2026**

Wall Street analysts issued several key stock upgrades and downgrades that could impact investor decisions.

**Upgrades:**

– **Alphabet (GOOGL)** upgraded to Strong Buy at Raymond James; price target raised to $400 from $315
– **Callaway Golf (CALY)** moved to Buy at B. Riley; price target increased to $19 from $11
– **Datadog (DDOG)** upgraded to Buy by Stifel despite lower target of $160 (down from $205)
– **Sphere Entertainment (SPHR)** upgraded to Buy by BTIG with a $110 target
– **Texas Instruments (TXN)** raised to Neutral from Underperform at BNP Paribas; new target is $190

**Downgrades:**

– **Amicus Therapeutics (FOLD)** downgraded to Hold at Jefferies; target trimmed to $14.50 from $16
– **Chemed (CHE)** downgraded to Hold at Jefferies; price target cut to $475 from $550
– **Hyatt Hotels (H)** lowered to In Line at Evercore ISI; target raised slightly to $175 from $170
– **LCI Industries (LCII)** downgraded to Hold by Loop Capital; price target set at $149
– **Legend Biotech (LEGN)** downgraded sharply to Hold from Buy by TD Cowen; target slashed from $62 to $21

Keep an eye on how these moves influence stock prices throughout the trading day.