S&P 500 Hits Record Highs, Palantir Jumps 27%: Stock Market Today
U.S. equities powered to fresh record highs by midday Tuesday as blowout guidance from Palantir Technologies Inc. (NASDAQ: PLTR ) and a Caterpillar Inc. (NYSE: CAT ) earnings beat reignited the AI trade, while crude oil tumbled more than 5% on growing conviction that a deal to reopen the Strait of Hormuz is days away. Treasury Secretary Scott Bessent told CNBC that “we may have an Iran deal tomorrow to open Hormuz.” • Palantir Technologies stock is among today’s top performers. Why are PLTR shares rallying? The S&P 500 rose 1.4% to 7,707.81, a record, while the Dow Jones Industrial Average advanced 870 points, or 1.6%, to 54,048.41, also an all-time high. The Nasdaq 100 outpaced the tape with a 2.5% jump to 29,502.39. The Russell 2000 climbed 1.5% to 3,027.36. West Texas Intermediate crude sank 5.3% to $76.06 a barrel, while Brent slid 5.2% to $79.42. Rate traders tr...
S. equities powered to fresh record highs by midday Tuesday as blowout guidance from Palantir Technologies Inc. (NASDAQ: PLTR ) and a Caterpillar Inc. (NYSE: CAT ) earnings beat reignited the AI trade, while crude oil tumbled more than 5% on growing conviction that a deal to reopen the Strait of Hormuz is days away.
” • Palantir Technologies stock is among today’s top performers. Why are PLTR shares rallying? 41, also an all-time high. 39.
36. 42. Rate traders trimmed hawkish bets accordingly. 3 billion.
The retreat in energy costs rippled straight into rates. 75%. 19%. S.
5%. 4%. 6%. 7%.
2%. 9%. 9%, the only two sectors down for the session. 9%.
7%. The semiconductor complex was carried by an optical and memory melt-up. Micron Technology Inc. 8%, Broadcom Inc.
2%, Intel Corp. 6% and Marvell Technology Inc. 2%. Leading the Russell 1000, Wayfair Inc.
47 billion consensus, adjusted EPS of 95 cents topped the 89-cent estimate. S. 7% and the company had its strongest domestic growth since 2020. Free cash flow of $301 million was also the best since the COVID-19 pandemic era.
S. 15 billion. Zebra Technologies Corp. 1% ahead of the Street.
Applied Optoelectronics Inc. 1% gain. The company will report on Thursday. Gartner Inc.
68 billion. 3 billion, and management raised full-year adjusted EBITDA, EPS and free cash flow guidance. W. Grainger Inc.
23 expected, Cummins Inc. 26 expected, and TransDigm Group Inc. 87 topping estimates. Energy producers followed crude lower, with Diamondback Energy Inc.
8%. On the downside, Bruker Corp. 1% in a classic mixed print. 59 billion.
42 expected. 3 billion estimate. NRG Energy Inc. 73 a year earlier, even as GAAP net income hit $506 million and full-year guidance was reaffirmed.
The read-across hit the rest of the AI-power complex: Vistra Corp. 3% and Constellation Energy Corp. 0%. Sterling Infrastructure Inc.
7%, but the adjusted