Wall Street's top calls: SpaceX initiation, Apple downgrade

What happened: Wedbush analyst Dan Ives initiated coverage of SpaceX (SPCX) with an 'Outperform' rating and a $190 price target, citing its potential in the hyperscaler wars. Meanwhile, JPMorgan upgraded Visteon (VC) to 'Overweight' from 'Neutral'. Futures climbed on reports of a U.S.-Iran ceasefire, while gold surged to $4,088 and Bitcoin tumbled to 20-month lows.

Market impact: The bullish call on SpaceX could drive interest in the aerospace and satellite sectors, while the upgrade of Visteon may boost sentiment in the automotive tech space. The geopolitical developments impacted precious metals and cryptocurrencies, with gold rallying and Bitcoin tumbling.

What to watch next: SpaceX's upcoming launch schedule and any potential partnerships or contracts could validate Ives' bullish stance. Visteon's Q1 earnings, due in late April, will provide insight into the company's performance. Additionally, further developments in U.S.-Iran relations and their impact on commodities and cryptocurrencies will be crucial to monitor.