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Chip, Drug Makers to Drive Non-Residential Construction Rebound, UBS Says
US Markets

Chip, Drug Makers to Drive Non-Residential Construction Rebound, UBS Says

US non-residential construction is approaching a reacceleration, driven by semiconductor and pharmaceutical investments, UBS Securities said in a note emailed Tuesday.The brokerage expects manufacturing-related construction to rebound to more than $200 billion by the end of next year following a 25% drop to $186 billion in the last 12 months.Electric vehicle and battery plants, as well as semiconductor investments, drove the previous buildout cycle from 2021 to 2024, UBS analysts, including Steven Fisher, said."Our analysis and project tracking continues to suggest the drivers this cycle will be another round of semiconductor factories and pharmaceutical projects, in addition to some general industrial and defense related investments," Fisher wrote.UBS upgraded its 2027 growth outlook for non-residential construction to 6.7% from 6%, while lowering the 2026 view to show a 0.9% drop, all in nominal terms.The semiconductor industry has announced nearly $300 billion in year-to-date investments, according to the note. The CHIPS and Science Act, which became law in 2022, initially boosted capacity expansion, but companies have reassessed plans over the last one to two years."For some time, semiconductor manufacturers have remained relatively disciplined in their capacity expansion plans, preferring to add capacity in response to demand rather than build ahead of it," Fisher said. "That demand now appears firmly in place."Pharmaceutical companies have announced about $400 billion in new investments over the last two years, including a commitment of at least $20 billion from Eli Lilly (LLY), amid surging demand for weight loss drugs, the UBS note showed.Defense spending is also on the rise due to the evolving geopolitical situation."In addition to structural drivers discussed above, we think that cyclical drivers will add to growth," Fisher said.The Institute for Supply Management's purchasing managers' index has been expanding for eight months in a row following three years of sluggish performance, according to the brokerage. Separately, S&P Global (SPGI) said last week that manufacturing growth held steady sequentially in August.UBS said equipment rental firm United Rentals (URI) is the main beneficiary of the manufacturing capacity expansion.The brokerage is also positive on United Rentals' peer Equipmentshare.com (EQPT) and construction machinery names Oshkosh (OSK), Caterpillar (CAT), Deere (DE) and CNH Industrial (CNH).Materials providers like Martin Marietta Materials (MLM) and CRH (CRH) and some companies in the engineering and construction sector will also benefit from a pickup in factory activity, according to the note.

$CAT$CNH$CRH$DE$EQPT$LLY$MLM$OSK$SPGI$URI
Insider Trading

Caterpillar Insider Sold Shares Worth $26,211,764, According to a Recent SEC Filing

Joseph E Creed, Chief Executive Officer, on August 28, 2026, sold 32,401 shares in Caterpillar (CAT) for $26,211,764. Following the Form 4 filing with the SEC, Creed has control over a total of 46,394 common shares of the company, with 34,555 shares held directly and 11,839 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/18230/000110465926104202/xslF345X05/tm2624382-1_4seq1.xmlPrice: $776.32, Change: $-21.15, Percent Change: -2.65%

$CAT
Deere Faces Delayed Agricultural Recovery Amid Weak International Markets, BofA Says
US Markets

Deere Faces Delayed Agricultural Recovery Amid Weak International Markets, BofA Says

Deere (DE) faces a constrained farm equipment recovery that could take time to materialize, given weak international markets and cost pressures that are weighing on farmer capital spending, BofA Securities said Friday.The agricultural equipment manufacturer on Thursday raised the lower ends of its net income and cash flow guidance ranges, citing a strong fourth-quarter order book."New inventory is in a good shape and there is huge torque to an (agricultural) recovery," BofA analysts including Michael Feniger said.But there is some hesitation "on the shape of this farm equipment recovery into next year," Feniger said.Deere reduced guidance for Brazil and the European Union as both markets remained soft, while farmer economics are constrained by high fertilizer and diesel costs, the analyst said."We sense pricing still just covering costs (in 2027)," Feniger said.Deere appears to be constructive on its small agriculture business, though data indicate slowing demand for low-horsepower tractors, according to the research note. The company expects small agriculture and turf net sales to increase about 15% in fiscal 2026.BofA raised the price objective on Deere's stock to $667 from $607.50 and reiterated its neutral rating."While we believe an elevated recovery multiple is warranted, valuation is at the higher end of the recovery multiple range," Feniger said. "As a result, positive (earnings per share) revisions on a farm equipment cycle are required from here -- yet we see a constrained farmer capital spending backdrop given soft ag fundamentals."Deere's shares rose 1.9% in Friday trading, and have gained 36% this year.Caterpillar (CAT) raised its full-year revenue outlook earlier this month as the heavy equipment manufacturer generated more than $20 billion in sales for the first time in a single quarter.Price: $632.45, Change: $+11.51, Percent Change: +1.85%

$CAT$DE
Equities

Correction: S&P 500 Posts Weekly Gain Amid AI Monetization Optimism

(Corrects to remove detailed Microsoft information as story published July 31 included Q3 data.)The Standard & Poor's 500 index rose 1.1% this week as hyperscalers showed the mega spend on the artificial intelligence buildout is being monetized.The market benchmark ended the week at 7,489.72. The index is now down 0.1% quarter-to-date but up 9.4% year-to-date.Microsoft (MSFT) and Amazon.com (AMZN) rose this week as quarterly results from the tech giants showed revenue growth in areas related to AI products and services, helping calm worries surrounding hundreds of billions of dollars of investments earmarked for the AI buildout.The consumer discretionary sector in the S&P 500 had the largest percentage gain of the week, up 8.3%, followed by a 5.4% advance in communication services and a 1.2% rise in consumer staples.Sales at Amazon's cloud computing unit delivered the fastest growth in 18 quarters, helping the e-commerce giant exceed market expectations for Q2 earnings and revenue. Shares jumped 17% this week even as the e-commerce behemoth expanded its capital expenditure by about $20 billion to $220 billion.A consortium of banks led by Morgan Stanley (MS) is in talks to lend $15 billion to a data-center developer to build a campus and power plant for Anthropic in Texas, The Wall Street Journal reported Thursday, citing people familiar with the matter. Alphabet's (GOOG, GOOGL) Google would provide financial guarantees and chips for the project. Shares of Alphabet are up 12% this week.The three worst-performing S&P 500 sectors this week were utilities, real estate and materials, down 4.2%, 2.2%, and 1.7%, respectively.C.H. Robinson Worldwide (CHRW) said a jury in Texas issued a $604 million advisory verdict against the firm and two other defendants in a lawsuit stemming from a trucking accident involving an independent motor carrier. Shares declined 21% this week.Edison International (EIX) said Thursday that Southern California Edison believes it is likely its equipment was associated with the ignition of the 2025 Eaton Fire, according to a Thursday quarterly filing. Southern California Edison recorded $1.6 billion in settlement-related losses and said it expects to incur additional material losses related to the fire, per the filing. Shares of Edison slumped 8% this week.Palantir Technologies (PLTR), Space Exploration Technologies (SPCX), Advanced Micro Devices (AMD), Caterpillar (CAT), Walt Disney (DIS), SanDisk (SNDK), Uber Technologies (UBER) and Take-Two Interactive Software (TTWO) are among the companies reporting their quarterly results next week.Economic data due next week includes non-farm payrolls, job openings and labor turnover survey, and ISM manufacturing and services purchasing managers' indexes.

S&P 500$AMD$AMZN$CAT$CHRW$DIS$EIX$GOOG$GOOGL$MS$MSFT$PLTR$SNDK$SPCX$TTWO$UBER
Wire

DA Davidson Adjusts Price Target on Caterpillar to $882 From $845, Maintains Neutral Rating

Caterpillar (CAT) has an average rating of overweight and mean price target of $984.41, according to analysts polled by FactSet.Price: $870.67, Change: $-0.86, Percent Change: -0.10%

$CAT
Asia Markets

Update: S&P 500, Dow Scale New Peaks Amid Strong Earnings Flow, Strait of Hormuz Reopening Optimism

(Updates with index/price moves and macroeconomic data from the first paragraph.)US equity indexes jumped as strong earnings helped the S&P 500 and the Dow Jones Industrial Average break records, while sliding crude oil and government bond yields reflected optimism that the Strait of Hormuz could soon reopen.The Nasdaq Composite jumped 2.6% to 26,584.99, the S&P 500 advanced 1.8% to 7,736.52, and the Dow Jones Industrial Average climbed 1.7% to 54,085.88 at the close Tuesday. Both the S&P 500 and the Dow hit their respective all-time highs of 7,758.21 and 54,272.60 earlier in the session, according to data compiled by CNBC.Technology was the standout gainer, followed by materials and industrials. Energy led decliners.Palantir Technologies (PLTR) surged more than 29%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange-Traded Fund (SMH), with net assets of $77.2 billion, jumped 5.6%.Caterpillar (CAT) raised its full-year revenue outlook on Tuesday after single-quarter sales topped $20 billion for the first time. Shares jumped 5.6%, the Dow's leader.Iranian Foreign Ministry spokesman Esmaeil Baghaei said Iran and Oman are continuing talks aimed at ensuring the safe flow of traffic through the Strait of Hormuz, with discussions focused on designating safe inbound and outbound lanes, Al Jazeera, a Middle Eastern broadcaster, reported. Iran's goal in its talks with Oman "is to set temporary arrangements" - lasting up to three months - where Tehran can control a route through the strait, an official told CNN.Iran is considering allowing European nations to remove mines from the strait, a potential climbdown that could form part of a deal to normalize shipping in the waterway and ease peace negotiations with the US, Bloomberg reported. US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, the news report said.Front-month US West Texas Intermediate crude oil sank 6% to $75.52 a barrel, and global benchmark North Sea Brent slumped 5.6% to $79.07 a barrel.US Treasury yields dropped, with the 10-year down 6.9 basis points to 4.62%. The two-year yield slid 6.2 basis points to 4.19%.Gold futures rose 1.1% to $4,134.1, and silver futures climbed 3.2% to $59.73.US job openings fell to 7.359 million in June, per the Bureau of Labor Statistics, below the 7.454 million openings expected in a Bloomberg-compiled poll and down from the 7.537 million openings reported in May. The June print represents 4.4% of total employment, lower than 4.5% in May but up from 4.3% a year ago.New orders for US factory goods slipped 0.3% in June, versus a 0.2% gain expected in a Bloomberg-compiled survey and a revised 1.1% drop in May. Excluding a 0.1% decline in transportation orders, new orders would have been down 0.4% after a 2% gain in May, compared with expectations for a 0.4% increase.Redbook US same-store sales jumped 8.7% from a year ago in the week ended Aug. 1, following an 8.3% advance in the previous week.

Dow JonesNasdaq CompositeS&P 500$CAT$PLTR$SMH
Update: S&P 500, Dow Notch New Highs on Earnings Boost, Hormuz Deal Optimism
US Markets

Update: S&P 500, Dow Notch New Highs on Earnings Boost, Hormuz Deal Optimism

(Updates with market moves at the end of the day, and other changes, if any.)The S&P 500 and the Dow Jones Industrial Average jumped to fresh all-time highs on Tuesday, buoyed by earnings and diplomatic efforts to reopen the Strait of Hormuz.The S&P 500 climbed 1.8% to 7,736.52. The Dow rose 1.7% to 54,085.88, notching a record high for a second consecutive day. The Nasdaq Composite added 2.6% to settle at 26,584.99, extending its advance to a fourth session.Among sectors, technology paced the gainers with its 4.1% jump, while utilities led the laggards.Palantir Technologies' (PLTR) stock surged nearly 30%, the best performer on the S&P 500, as the company late Monday lifted its full-year revenue guidance on the back of stronger-than-expected second-quarter results."With the US (second-quarter) earnings reporting season in full gear, traders and analysts seem to have stopped punishing stocks of companies with expansive (artificial intelligence)-related capex plans," Macquarie said in a Tuesday report. "So far, US quarterly earnings reports haven't disappointed, in aggregate."Caterpillar (CAT) was the biggest gainer on the Dow, up 5.6%. The company raised its full-year revenue outlook as it generated more than $20 billion in sales for the first time in a single quarter.Snap (SNAP) soared nearly 15% after the social media company announced second-quarter results above Wall Street's estimates.SpaceX (SPCX) shares jumped 9.4%. The rocket and satellite company released its first quarterly results since going public after the closing bell.West Texas Intermediate crude oil fell 5.6% to $75.86 a barrel in Tuesday late-afternoon trade, while Brent declined 5.2% to $79.43.Treasury Secretary Scott Bessent told CNBC that the US and Iran could reach an agreement to reopen the Strait of Hormuz, the world's most important chokepoint for crude flows, by Wednesday."We are in talks with the Iranians," Bessent said. "There is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict."Efforts to resolve the US-Iran conflict are "in very progressive stages," according to Qatar's Foreign Ministry spokesperson Majed al-Ansari, CNN reported.Treasury yields fell, with the two-year yield down 5.6 basis points at 4.2% and the 10-year yield dropping 6.3 basis points to 4.62%.Spot gold rose 0.6% to $4,079.74 per troy ounce, while silver gained 3.4% to $59.82 per ounce.

Dow JonesNasdaq CompositeS&P 500$CAT$PLTR$SNAP$SPCX
Equities Rally Intraday Amid Upbeat Earnings, Hormuz Reopening Hopes
US Markets

Equities Rally Intraday Amid Upbeat Earnings, Hormuz Reopening Hopes

US equities rallied intraday, fueled by upbeat earnings reports and hopes that the Strait of Hormuz would soon reopen.The Nasdaq Composite was up 2.6% at 26,591.3 after midday Tuesday, while the Dow Jones Industrial Average rose 2% to 54,214.6. The S&P 500 advanced 1.8% to 7,743.73. All three main indexes posted gains on Monday, with the Dow notching a record closing high.Among sectors, technology paced the gainers intraday Tuesday with its 4.3% jump, while utilities led the laggards.Palantir Technologies' (PLTR) stock surged nearly 30%, the best performer on the S&P 500, as the company late Monday lifted its full-year revenue guidance on the back of stronger-than-expected second-quarter results.Caterpillar (CAT) was the biggest gainer on the Dow, up 6.9%. The company raised its full-year revenue outlook as it generated more than $20 billion in sales for the first time in a single quarter.Snap (SNAP) soared nearly 14% after the social media company announced second-quarter results above Wall Street's estimates.West Texas Intermediate crude oil fell 5.3% to $76.05 a barrel intraday, while Brent declined 5% to $79.56.Treasury Secretary Scott Bessent told CNBC that the US and Iran could reach an agreement to reopen the Strait of Hormuz, the world's most important chokepoint for crude flows, by Wednesday."We are in talks with the Iranians," Bessent said. "There is a chance we may have a deal today or tomorrow to open the strait and move towards a more normalized position in this conflict."Efforts to resolve the US-Iran conflict are "in very progressive stages," according to Qatar's Foreign Ministry spokesperson Majed al-Ansari, CNN reported.Treasury yields fell intraday, with the two-year yield down 5.8 basis points at 4.2% and the 10-year yield dropping 5.3 basis points to 4.63%.SpaceX (SPCX) shares were up 7.9% intraday with the rocket and satellite company expected to release its first quarterly results since going public after market close Tuesday, along with Advanced Micro Devices (AMD), Arista Networks (ANET), Amgen (AMGN) and Gilead Sciences (GILD).Spot gold rose 1% to $4,094.44 per troy ounce, while silver jumped 4.1% to $60.23 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMGN$ANET$CAT$GILD$PLTR$SNAP$SPCX
Asia Markets

Update: Technology Helps Push US Equity Indexes Higher Amid Earnings, Iran Deal Optimism

(Updates with index/price moves, macroeconomic data, and company news from the first paragraph.)US equity indexes rose as earnings helped boost technology, and a slide in crude oil and government bond yields added to confidence that Iran is nearing a deal to reopen the Strait of Hormuz, the chokepoint for about a fifth of global crude oil and natural gas flows.The Nasdaq Composite jumped 2.4% to 26,539.5, with the S&P 500 up 1.8% to 7,735.1 and the Dow Jones Industrial Average higher by 1.9% to 54,185.2. The S&P 500 and the Dow touched their respective 52-week highs intraday.Technology was the standout gainer, followed by materials and industrials. Utilities led decliners.Palantir Technologies (PLTR) surged 30%, the top gainer on the S&P 500 and the Nasdaq, after Q2 sales and adjusted earnings surpassed analysts' estimates and the company, one of the most prominent names in the artificial intelligence industry, boosted its full-year 2026 revenue outlook.VanEck Semiconductor Exchange-Traded Fund (SMH), with net assets of $77.2 billion, jumped 5.4%.Caterpillar (CAT) raised its full-year revenue outlook on Tuesday after single-quarter sales topped $20 billion for the first time. Shares jumped 6.6%, the Dow's leader.The prospect of a US-Iran deal appeared to be gaining traction on Tuesday, after Qatar said a proposal had been drafted and US Treasury Secretary Scott Bessent sounded hopeful on an agreement to reopen the Strait of Hormuz, Bloomberg reported.US Treasury Secretary Bessent said a deal to open the Strait could come as early as "today or tomorrow," allowing "freedom of movement" for commercial vessels, Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil fell 5.1% to $76.26 a barrel, and global benchmark North Sea Brent slid 4.8% to $79.73 a barrel.US Treasury yields dropped, with the 10-year down 5.7 basis points to 4.63%. The two-year yield slid six basis points to 4.2%.Gold futures jumped 1.4% to $4,146.5, and silver futures advanced 3.8% to $60.04.US job openings fell to 7.359 million in June according to the Bureau of Labor Statistics, below the 7.454 million openings expected in a survey compiled by Bloomberg and down from the 7.537 million openings reported in May. The June level represents 4.4% of total employment, down from 4.5% in May but up from 4.3% a year earlier.New orders for US factory goods fell by 0.3% in June, versus expectations for a 0.2% increase in a Bloomberg-compiled survey and a revised 1.1% decrease in May. Excluding a 0.1% drop in transportation orders, new orders would have been down 0.4% after a 2% gain in May, compared with expectations for a 0.4% gain.US home prices advanced further in Q2, with 80% of metro areas reporting price increases for single-family homes over the quarter, the National Association of Realtors reported Tuesday, up from 71% in the previous quarter.

Dow JonesNasdaq CompositeS&P 500$CAT$PLTR$SMH
Wire

Correction: Caterpillar's Q2 Adjusted Profit, Revenue Increase; Shares Up Pre-Bell

(Corrects the Q2 2025 adjusted profit in the first paragraph to $4.72.)Caterpillar (CAT) reported Q2 adjusted profit Tuesday of $8.17 per share, up from $4.72 a year earlier.Analysts polled by FactSet expected $6.22.Total sales and revenue for the quarter ended June 30 were $20.54 billion, compared with $16.57 billion a year earlier.Analysts polled by FactSet expected $19.34 billion.In the quarter, the company deployed $1.5 billion of cash for repurchases of Caterpillar common stock and $0.7 billion of cash for dividends.Shares of Caterpillar were up 5% premarket activity.Price: $885.83, Change: $+55.80, Percent Change: +6.72%

$CAT
Wire

Top Midday Stories: Bessent Says US, Iran Could Soon Reach Hormuz Deal; Palantir Shares Soar on Strong Q2 Results, Guidance

All three major US stock indexes were up in late-morning trading Tuesday, as investors grew more optimistic on a potential deal between the US and Iran to reopen the Strait of Hormuz.The US and Iran could reach a deal Tuesday or Wednesday to reopen the Strait of Hormuz for commercial ships, Treasury Secretary Scott Bessent said Tuesday in an interview with CNBC.In company news, Palantir Technologies (PLTR) reported Q2 adjusted earnings late Monday of $0.41 per diluted share, above the FactSet consensus estimate of $0.34. Second-quarter revenue was $1.94 billion, up from $1.00 billion a year earlier and above the FactSet consensus of $1.81 billion. For Q3, the company expects revenue of $2.160 billion to $2.164 billion, above the FactSet consensus of $2.00 billion. For full-year 2026, the company expects revenue of $8.150 billion to $8.158 billion, above its previous guidance of $7.650 billion to $7.662 billion and above the FactSet consensus of $7.725 billion. Palantir shares were up 27.2% around midday.Caterpillar (CAT) reported Q2 adjusted profit of $8.17 per share, up from $4.72 a year earlier and above the FactSet consensus of $6.22. Total Q2 sales and revenue were $20.54 billion, up from $16.57 billion a year ago and above the FactSet consensus of $19.34 billion. Caterpillar shares were up 6.5%.Anthropic has signed a $10 billion deal for computing capacity with Volta Infra, a new infrastructure startup backed by Nvidia (NVDA), Bloomberg reported Tuesday, citing people familiar with the matter. Separately, Blackstone (BX) has held early talks with investors to assess their interest in a second massive debt package to finance Anthropic's use of chips from Alphabet's (GOOG, GOOGL) Google, Bloomberg reported, citing people with knowledge of the matter. One early proposal was for at least $36 billion, but the size, structure and whether Blackstone will lead the financing remain unknown, the report said, citing the people. Nvidia shares were up 2%. Blackstone shares were up 1.5%, while Alphabet Class C and Class A shares were up 0.2% and 0.5%, respectively.Amazon.com (AMZN) founder Jeff Bezos indicated plans to sell 15 million shares of the company valued at $4.07 billion, according to a regulatory filing. Separately, Amazon was sued Tuesday by New Jersey Attorney General Jennifer Davenport, who accused the online retailer of abusing its market power over independent delivery drivers, Davenport's office confirmed to. Amazon shares were down 2.2%.McDonald's (MCD) reported Q2 non-GAAP diluted EPS Tuesday of $3.38, up from $3.19 a year earlier and above the FactSet consensus of $3.32. Total Q2 revenue was $7.10 billion, up from $6.84 billion a year ago but below the FactSet consensus of $7.13 billion. The company said Skye Anderson was appointed as president of McDonald's USA, effective Tuesday, succeeding Joe Erlinger. McDonald's shares were up 1.5%.Merck (MRK) reported a Q2 non-GAAP loss Tuesday of $0.13 per share, swinging from earnings of $2.13 per share a year earlier but narrower than the FactSet consensus of a loss of $0.27 per share. Second-quarter sales were $16.61 billion, up from $15.81 billion a year ago and above the FactSet consensus of $16.37 billion. For full-year 2026, the company expects non-GAAP EPS of $2.66 to $2.76, below its prior outlook of $5.04 to $5.16 and below the FactSet consensus of $2.79. Merck shares were down 1.1%.Price: $159.84, Change: $+34.19, Percent Change: +27.21%

$AMZN$BX$CAT$GOOG$GOOGL$MCD$MRK$NVDA$PLTR
Caterpillar Raises Sales Outlook as Second-Quarter Revenue Tops $20 Billion
US Markets

Caterpillar Raises Sales Outlook as Second-Quarter Revenue Tops $20 Billion

Caterpillar (CAT) raised its full-year revenue outlook on Tuesday as the company generated more than $20 billion in sales for the first time in a single quarter.The heavy equipment manufacturer now anticipates revenue to rise by mid-to-high teens for 2026, according to an earnings presentation, compared with the prior guidance for low-double-digit growth. The consensus on FactSet is for sales of $77.01 billion, reflecting a nearly 14% annual jump.The stock rose 10% in Tuesday trade.For the three months through June, the company's adjusted EPS jumped to $8.17 from $4.72, surpassing Wall Street's view for $6.22. Sales advanced 24% to $20.54 billion, topping the average analyst estimate of $19.34 billion, driven by volume and pricing gains."This is the first time in company history that we have generated over $20 billion in sales and revenues in a single quarter," Chief Executive Joe Creed said in a statement. "Strong order rates and a growing backlog reflect broadening momentum across all three of our primary segments."Sales in the power and energy segment increased 17% to $8.24 billion, while the construction industries business soared 35% to $8.35 billion. Resource industries gained 20%.The company's order backlog rose $34.6 billion year on year to a record $72.1 billion, the presentation showed.Last month, Truist Securities said major companies in the machinery, infrastructure services and multi-industry domains were set to benefit from a continued expansion in the US manufacturing sector and strong demand trends.The brokerage expected Caterpillar to deliver another strong quarter, driven by strength in its power and construction businesses, as well as a reacceleration in its oil and gas and mining segments.The Institute for Supply Management and S&P Global (SPGI) said Monday that the manufacturing sector in the world's largest economy continued to grow in July.Caterpillar forecasts tariff costs of $2.2 billion this year, excluding any refunds, compared with expenses between $2.2 billion and $2.4 billion previously expected.Caterpillar expects "strong" sales growth in the third quarter, while the Street is looking for $19.68 billion.Price: $920.00, Change: $+89.12, Percent Change: +10.73%

$CAT
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Tuesday Amid Strait of Hormuz Re-Opening Hopes

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) was 1.1% higher in Tuesday's premarket activity amid hopes for a re-opening of the Strait of Hormuz after US Treasury Secretary Scott Bessent told CNBC that the US and Iran could reach a deal Tuesday or Wednesday.US stock futures were also higher, with S&P 500 Index futures up 0.3%, Dow Jones Industrial Average futures advancing 1.1%, and Nasdaq futures gaining 1.1% before the start of regular trading.The US international trade deficit narrowed to $73.26 billion in June from a $77.65 billion gap in May, a slightly larger deficit than the expectations for a $73 billion gap in a survey compiled by Bloomberg as of 7:30 am ET.Factory orders and job openings data for June are due to be released at 10 am ET.In premarket activity, bitcoin was down by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was flat, Ether ETF (EETH) retreated 0.01%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 2.2%, the iShares US Technology ETF (IYW) was 1.9% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 1.6%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 1.2%, while the iShares Semiconductor ETF (SOXX) rose by 4.4%.Palantir Technologies (PLTR) shares were up more than 15% in Tuesday's premarket activity after multiple analyst price target raises followed the company's Q2 beat.Winners and Losers:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.6%, while the Vanguard Industrials Index Fund (VIS) was up 0.7% and the iShares US Industrials ETF (IYJ) was 0.8% higher.Caterpillar (CAT) shares were up 11% after the company reported higher Q2 earnings and revenue.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.1%, the Vanguard Health Care Index Fund (VHT) advanced marginally by 0.02%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was down 0.3%.IDEXX Laboratories (IDXX) stock was up 4% premarket after the company posted higher Q2 comparable earnings and revenue.EnergyThe iShares US Energy ETF (IYE) gained 1%, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.8%.Energy Transfer (ET) stock was up more than 4% before market open after the company reported higher Q2 earnings and revenue.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) declined by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.7%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.TOP Financial (TOP) shares were up 4% in early hours activity after the company said its board has approved a plan to integrate artificial intelligence into its online brokerage and financial technology platforms.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.4%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated 0.04%, and the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.4%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.4% higher.NIKE (NKE) shares were down more than 3% pre-bell after JPMorgan downgraded the company's stock to underweight from neutral and cut its price target to $40 from $47.CommoditiesFront-month US West Texas Intermediate crude oil fell by 2.8% to $78.07 per barrel on the New York Mercantile Exchange. Natural gas was down 3% at $2.70 per 1 million British Thermal Units. The United States Oil Fund (USO) decreased by 2.7%, while the United States Natural Gas Fund (UNG) was 2.3% lower.Gold futures for November advanced by 0.7% to $4,119.50 an ounce on the Comex. Silver futures gained by 2.7% to reach $59.41 an ounce. SPDR Gold Shares (GLD) was up by 0.7%, and the iShares Silver Trust (SLV) was 3% higher.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CAT$EEM$EETH$ET$EXI$FAS$FAZ$GLD$IBB$IDXX$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NKE$PLTR$PMR$QQQ$RTH$SLV$SOXX$SPY$TOP$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Update: Palantir Earnings Beat, Tech Stock Rally Lift US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Tuesday as technology-related stocks were on the upswing, highlighted by a Q2 beat-and-raise from Palantir Technologies (PLTR).Dow Jones Industrial Average futures were 1.2% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 1.1% higher.Palantir shares were up more than 15% in pre-market activity after the company posted Q2 adjusted earnings and revenue that surpassed analysts' estimates, as well as boosting its full-year 2026 revenue outlook.President Donald Trump said late Monday that Exxon Mobil (XOM) and Chevron (CVX) had made "too much money" off higher oil prices and told them to "give some of that back to the public," multiple media outlets reported.SpaceX (SPCX) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect a loss of $0.23 per share on revenue of $6.83 billion.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.4% at $81.77 per barrel and US West Texas Intermediate crude 3.1% lower at $77.86 per barrel.The US international trade deficit narrowed to $73.26 billion in June from revised $77.65 billion gap in May, compared with a $73.0 billion gap expected in a survey compiled by Bloomberg.June factory orders, due at 10 am ET, are expected to have gained 0.2%, compared with a decline of 1.3% previously. June job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected at 7.454 million, compared with 7.594 million in the prior month.In other world markets, Japan's Nikkei closed 0.3% higher, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.3% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, Caterpillar (CAT) shares rose 11% after the company's Q2 adjusted profit and revenue beat analysts' consensus. Merck (MRK) stock was up 0.9% after the company posted better-than-expected Q2 results. Broadcom (AVGO) shares were 2.7% higher and Micron Technology (MU) stock was up 4.5% as part of a broader rally in technology stocks.On the losing side, HSBC (HSBC) shares fell 2% despite the company posting higher basic earnings and revenue for Q2. Prologis (PLD) stock was down 3% after the company said it reached a recommended agreement to acquire Segro in a transaction valuing the target company at about $18.8 billion.

Dow JonesNasdaq CompositeS&P 500$AVGO$CAT$CVX$HSBC$MRK$MU$PLD$PLTR$SPCX$XOM
Stocks Rise Pre-Bell Ahead of Latest Round of Earnings; Investors Gauge Uncertainty Over Potential US-Iran Deal
US Markets

Stocks Rise Pre-Bell Ahead of Latest Round of Earnings; Investors Gauge Uncertainty Over Potential US-Iran Deal

US equity futures were tracking in the green on Tuesday as traders await the latest batch of corporate earnings and assess ongoing uncertainty over a potential resolution to the Middle East conflict.The S&P 500 rose 0.2% in premarket activity, while the Dow Jones Industrial Average and the Nasdaq gained 0.3% each. All three main indexes finished Monday trading up, with the Dow notching a record closing high.Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Pfizer (PFE), Spotify Technology (SPOT), Transdigm (TDG), Rockwell Automation (ROK), Archer-Daniels-Midland (ADM), Kimberly-Clark (KMB), BioNTech (BNTX) and DuPont de Nemours (DD) are all scheduled to report their latest financial results before the bell.SpaceX (SPCX) shares were up 2% pre-bell with the rocket and satellite company expected to release its first quarterly results since going public after the markets close, along with Advanced Micro Devices (AMD), Arista Networks (ANET), Amgen (AMGN) and Gilead Sciences (GILD).Palantir Technologies' (PLTR) stock jumped 15% early Tuesday as the company lifted its full-year revenue guidance on the back of stronger-than-expected second-quarter results. Snap (SNAP) climbed 7.3% after the social media company announced second-quarter results above Wall Street's estimates.President Donald Trump reportedly said Monday that the latest round of talks between the US and Iran is the "last chance" for Tehran to "sign a good document." Trump recently called off a planned attack on Iran.However, Iranian Foreign Ministry spokesperson Esmail Baghaei reportedly ruled out an immediate plan to negotiate with Washington. Tehran was in talks with Oman regarding the Strait of Hormuz, the world's most important chokepoint for crude flows, Baghaei reportedly said.West Texas Intermediate crude oil inclined 1.6% to $81.64 a barrel before the opening bell, while Brent advanced 2.3% to $85.66."Hopes of a peace deal in the Middle East weighed on crude prices," D.A. Davidson said in a Monday client note.Treasury yields were trending higher in premarket action, with the two-year rate ticking up 1 basis point to 4.27% and the 10-year rate adding 2.2 basis points to 4.71%.Tuesday's economic calendar has the international trade in goods and services report for June at 8:30 am ET, followed by the Job Openings and Labor Turnover Survey for the same month at 10 am.Gold moved up 0.3% to $4,103 per troy ounce, while bitcoin declined 0.7% to $63,441.

Dow JonesNasdaq CompositeS&P 500$ADM$AMD$AMGN$ANET$BNTX$CAT$DD$GILD$KMB$MCD$MRK$PFE$ROK$SPCX$SPGI$SPOT$TDG
Asia Markets

Palantir Technologies Earnings Buoy Wall Street Pre-Bell; Asia Mixed, Europe Up

Wall Street futures pointed moderately higher pre-bell Tuesday after software giant Palantir Technologies (PLTR) logged strong Q2 results and boosted guidance overnight, adding support to optimistic tech sector outlooks.Palantir traded up 14.8% pre-bell, while in the futures, the S&P 500 rose 0.2%, the Nasdaq inclined 0.8% and the Dow Jones was up 0.5%.Investors also await the Job Openings and Labor Turnover Survey report for June, aka JOLTS, at 10 am ET for clues into how US labor markets are faring under higher oil prices and Persian Gulf turmoil.Asian exchanges traded mixed and muted overnight, while European bourses tracked moderately higher midday on the continent.On the earnings scene, Caterpillar (CAT) shares traded up 8.7% pre-bell after the heavy-machinery maker reported Q2 earnings and revenue above consensus, in morning hours.SpaceX (SPCX), Advanced Micro Devices (AMD), Arista Networks (ANET) and Amgen (AMGN) plan to report after-bell.On the economic calendar, in addition to the JOLTS report, is the international trade in goods and services bulletin for June at 8:30 am ET, followed by the factory orders for June bulletin at 10 am.In premarket action, Bitcoin traded at $63,416, West Texas Intermediate crude oil traded up 1.9% at $81.88, and 10-year US Treasuries offered 4.71%. Spot gold commanded $4,050 an ounce.

Dow JonesNasdaq CompositeS&P 500$CAT$PLTR
Update: Dow Hits Record High as Oil Prices Slide on Iran Deal Hopes
US Markets

Update: Dow Hits Record High as Oil Prices Slide on Iran Deal Hopes

(Updates with market moves at the end of the day, and other changes, if any.)The Dow Jones Industrial Average hit an all-time high on Monday as Wall Street extended its rally into the third day, while hopes for a US-Iran deal sent oil prices lower.The Dow rose 1.3% to 53,178.41, notching a record closing high. The Nasdaq Composite advanced 2.1% to 25,913.90, while the S&P 500 climbed 1.5% to 7,600.50. Most sectors were in the green, led by communication services' 4.3% jump, while energy led the laggards.West Texas Intermediate crude oil tumbled 5.2% to $80.29 a barrel in Monday late-afternoon trade, while Brent dropped 4.7% to $83.80.President Donald Trump said Monday that the US is in talks with Iran. He previously called off a planned attack against Tehran."Hopes of a peace deal in the Middle East weighed on crude prices," D.A. Davidson said Monday in a note.However, Iranian Foreign Ministry spokesperson Esmail Baghaei on Monday ruled out an immediate plan to negotiate with Washington, according to news reports. Tehran was in talks with Oman regarding the Strait of Hormuz, the world's most important chokepoint for crude flows, Baghaei reportedly said.Treasury yields were lower, with the 10-year rate down 6.1 basis points at 4.68% and the two-year rate falling 3.7 basis points to 4.25%.In company news, Boeing (BA) shares jumped 8%, the best performer on the Dow. The planemaker has received the US Federal Aviation Administration's clearance for its 737 Max 7, paving the way for the model's launch after nearly a decade of regulatory review.Atkore (ATKR) jumped 28% after the electrical products manufacturer announced a $3.8 billion deal to be acquired by Italian cable maker Prysmian.Marriott International (MAR) was the worst performer on the S&P 500, down 7%. The hotel giant reported second-quarter revenue below Wall Street's estimates amid headwinds related to the Middle East conflict, while it provided a downbeat earnings outlook for the ongoing three-month period.Major companies including SpaceX (SPCX), Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Walt Disney (DIS), Shopify (SHOP) and Uber Technologies (UBER) are slated to release their quarterly results this week.In economic news, the US manufacturing sector continued to grow in July, with Institute for Supply Management data indicating the fastest expansion rate in more than four years and S&P Global (SPGI) signaling steady growth pace.Spot gold edged up 0.2% to $4,052.94 per troy ounce, while silver rose 1% to $58.34 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$ATKR$BA$CAT$DIS$LLY$MAR$MCD$MRK$SHOP$SPCX$SPGI$UBER
Update: Equities Rise Intraday, Oil Slides Amid Middle East Deal Optimism
US Markets

Update: Equities Rise Intraday, Oil Slides Amid Middle East Deal Optimism

(Updates with latest market prices and developments.)US stocks climbed intraday as oil prices fell after President Donald Trump renewed hopes for a diplomatic breakthrough in the Middle East conflict.The Nasdaq Composite was up 2% at 25,877.1 after midday Monday, while the S&P 500 rose 1.3% to 7,586.4. The Dow Jones Industrial Average climbed 0.9% to 52,962.1. Among sectors, communication services paced the gainers, while energy led the laggards.West Texas Intermediate crude oil tumbled 5.8% to $79.77 a barrel, while Brent dropped 4.8% to $83.70.Over the weekend, Trump said negotiations with Iran would begin Monday, without revealing venue details, news outlets reported. In a social media post, Trump said that he called off a planned attack against Iran because the "perimeters of a deal has been agreed to.""Hopes of a peace deal in the Middle East weighed on crude prices," D.A. Davidson said Monday in a note.However, Iranian Foreign Ministry spokesperson Esmail Baghaei on Monday ruled out an immediate plan to negotiate with Washington, according to news reports. Tehran was in talks with Oman regarding the Strait of Hormuz, the world's most important chokepoint for crude flows, Baghaei reportedly said.Treasury yields were lower intraday, with the 10-year rate down 5.5 basis points at 4.69% and the two-year rate falling 3.1 basis points to 4.26%.In company news, Atkore (ATKR) jumped 28% intraday after the electrical products manufacturer announced a $3.8 billion deal to be acquired by Italian cable maker Prysmian.Lantheus (LNTH) will become a private company following the completion of an up to $8 billion deal with Curium. Lantheus shares were up 2.7% intraday.Integer (ITGR) agreed to be acquired and taken private by investment firm KKR (KKR) in an all-cash deal with an enterprise value of about $5.7 billion. Integer rose 2.7%, while KKR advanced 2.1%.Marriott International (MAR) shares were the worst performer on the S&P 500, down 7.1%. The hotel giant reported second-quarter revenue below Wall Street's estimates amid headwinds related to the Middle East conflict, while it provided a downbeat earnings outlook for the ongoing three-month period.Major companies including SpaceX (SPCX), Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Walt Disney (DIS), Shopify (SHOP) and Uber Technologies (UBER) are slated to release their quarterly results this week.Palantir Technologies (PLTR) is scheduled to release its latest quarterly results after markets close Monday.Spot gold fell 0.2% to $4,038.48 per troy ounce, while silver was up 0.1% at $57.83 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$CAT$DIS$ITGR$KKR$LLY$LNTH$MAR$MCD$MRK$PLTR$SHOP$SPCX$UBER
S&P 500 Quarterly Profit Growth Eases Amid Sharp Tech Slowdown, Oppenheimer Says
US Markets

S&P 500 Quarterly Profit Growth Eases Amid Sharp Tech Slowdown, Oppenheimer Says

S&P 500 companies' second-quarter earnings growth has eased from a week ago as a sharp slowdown in profits reported by technology firms shadowed outsized gains in energy and consumer discretionary, Oppenheimer Asset Management said in a report Monday.So far, 306 companies, or 61% of the total, have reported results, with profit growth slowing to 57% from about 70% a week ago. Revenue growth jumped to 15% from nearly 13%.Earnings growth in the tech sector plunged to 61% from 190% a week ago, Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Last week, Meta Platforms (META) reported an unexpected annual decline in quarterly net income per share, while Apple (AAPL), Microsoft (MSFT) and Amazon.com (AMZN) posted gains.All 11 sectors reported annual profit growth, with energy and consumer discretionary soaring more than 130% each. Energy overtook tech as the sector with the fastest revenue growth pace, at 39%, while tech revenue expansion slowed to 25% from 45%.Analysts polled by FactSet projected S&P 500 earnings growth at nearly 24% year over year ahead of the second-quarter reporting season, Oppenheimer said.Another 138 S&P 500 companies are scheduled to report results this week, including Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), and Merck (MRK).Oil prices declined as President Donald Trump reportedly said Sunday that negotiations with Iran begin Monday. Trump previously called off a planned attack on Iran.Wall Street's stock market benchmarks closed out July mostly lower."A silver lining to the over-hanging clouds of recent volatility has been some further reduction in the forward earnings multiple of the S&P 500," Stoltzfus said.Price: $1120.72, Change: $-28.12, Percent Change: -2.45%

$AAPL$AMD$AMZN$CAT$LLY$META$MRK$MSFT
Asia Markets

Update: Middle East Diplomacy Optimism, Oil Price Decline Lift US Equity Futures Pre-Bell

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Monday as the US moved toward diplomacy in its war with Iran and oil prices fell.Dow Jones Industrial Average futures were 1.1% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.2% higher.President Donald Trump said in a post Sunday on Truth Social that he had cancelled an attack on Iran. "We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to," Trump said, adding that the deal would include the complete opening of the Strait of Hormuz and "an end to Iran's nuclear threat."Palantir Technologies (PLTR) is expected to report its Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $0.34 per share on revenue of $1.81 billion.Expected to report later in the week are SpaceX (SPCX), Advanced Micro Devices (AMD), Sandisk (SNDK), Western Digital (WDC), Caterpillar (CAT), ConocoPhillips (COP), Eli Lilly (LLY), Uber Technologies (UBER), and Berkshire Hathaway (BRK.A, BRK.B).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 5.6% at $82.97 per barrel and US West Texas Intermediate crude 6.7% lower at $78.97 per barrel.The final S&P Global manufacturing purchasing managers index for July, due at 9:45 am ET, is seen at 53.8, unchanged from its prior value, according to estimates compiled by Bloomberg.The July Institute for Supply Management's manufacturing index, due at 10 am ET, is projected at 53.9, up from 53.3 in the previous month. The June construction spending report is also due at 10 am ET.In other world markets, Japan's Nikkei closed 0.9% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 1.3% higher in Europe's early afternoon session.In equities, Alibaba (BABA) shares rose 3.6% after the company said in a social media post that it launched Qwen3.8-Max, its latest large language model, and plans to release the model's open weights next week alongside Qwen3.8-27B. Boeing (BA) stock was up 1.9% after the company said it delivered Somon Air's first 737 Max aircraft. BNP Paribas also upgraded Boeing's stock rating to outperform from underperform.Bristol Myers Squibb (BMY) shares were up 4.2% after a Financial Times report that the company was in talks with Astrazeneca (AZN) about a potential combination that would create a pharmaceutical company valued at nearly $400 billion. On the other hand, Astrazeneca stock was down 6.2%.On the losing side, BP (BP) shares fell 3.2% after the company completed the divestment of its Gelsenkirchen complex to independent refiner Klesch Group. Marriott International (MAR) stock was down 3.8% after the company reported lower-than-expected Q2 revenue and issued guidance for Q3 adjusted EPS that fell short of analysts' consensus.

Dow JonesNasdaq CompositeS&P 500$AMD$AZN$BA$BABA$BMY$BP$BRK.A$BRK.B$CAT$COP$LLY$MAR$PLTR$SNDK$SPCX$UBER$WDC

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