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Futures were lower on Monday, after a terrible and massive risk on Friday in which all major indices, as well as transport and utilities, closed much lower. The global market closed for the second week in a row, and the selloff was prompted by the hawkish tone that Federal Reserve Chairman Jay Powell laid out in his speech at the Jackson Hole economic symposium on Friday.

The avalanche of risk began when Powell said in his speech “another unusually large increase may be appropriate at our next meeting.” This almost tells the market that another 75 basis point hike is on the way when the Federal Open Market Committee meets. late in September unless there is a sharp drop in inflation data, which is highly unlikely.

Treasury yields were flat to higher across the curve on Friday after Powell said the Fed would hold the line on inflation. The two-year and 10-year reversal widened a bit, with the latter closing at 3.04% and the former at 3.38%. Widely considered a recession indicator, the U.S. curve has inverted before every recession since 1955, followed by a recession between six and 24 months, according to a 2018 report by San Francisco Fed researchers.

Brent and West Texas Intermediate both closed slightly higher on Friday, after an overall strong week for oil. Natural gas, which caught fire recently, was down slightly on the day. Gold and Bitcoin both closed lower on Friday.

24/7 Wall St. reviews dozens of analyst research reports each weekday in an effort to find new insights for investors and traders. Some of these daily analyst calls are covering stocks to buy. Other calls cover stocks to sell or avoid. Remember that no analyst call should ever be used as a basis for buying or selling a stock. Consensus analyst target data comes from Refinitiv.

These are the major upgrades, downgrades, and insiders analysts observed on Monday, August 29, 2022.

Affirm Holdings Inc. (NASDAQ:AFRM): Goldman Sachs raised its $22 price target on the company’s “buy now, pay later” to $25 while maintaining a neutral rating on the stock. The consensus target is $36.26. The stock closed down 21% on Friday at $24.57.

Altra Industrial Motion Corp. (NASDAQ: AIMC): Loop Capital has initiated a hedge on the stock with a buy rating and a price target of $58. The consensus target is $54.47. Friday’s latest trade was reported at $40.01.

Arco Platform Ltd. (NASDAQ:ARCE): Credit Suisse’s downgrade to Neutral from Outperformance included a reduced price target to $18 from $27. The consensus target is $24.26. The stock was last seen Friday at $13.45, down almost 8% on the day.