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US Markets

Equities Rise Intraday as Hegseth Says US-Iran Ceasefire Still Holds

US benchmark equity indexes were higher intraday as oil prices fell after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains intact.The Nasdaq Composite was up 1% at 25,307.8 after midday Tuesday, while the S&P 500 rose 0.9% to 7,262.2. The Dow Jones Industrial Average advanced 0.7% to 49,283. Barring financials and communication services, all sectors were in the green, led by materials.West Texas Intermediate crude was down 4.4% at $101.73 per barrel in afternoon trading, while Brent fell 4% to $109.91."The ceasefire is not over," Hegseth said in a press briefing at the Pentagon, according to a CNBC report.The comment came a day after Tehran fired missiles and drones at the United Arab Emirates, reigniting concerns about an already fragile ceasefire between the US and Iran.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command. A senior Iranian military official reportedly disputed that claim.US Treasury yields were lower intraday, with the 10-year rate down 2.9 basis points at 4.41% and the two-year rate falling 2.6 basis points to 3.94%.In company news, Pinterest (PINS) shares were advancing by 9.1% in Tuesday afternoon trading. The image-sharing platform company posted better-than-expected first-quarter results late Monday and forecast up to 16% revenue growth year over year for the ongoing three-month period.Shopify (SHOP) on Tuesday issued a second-quarter revenue outlook that implied a sequential slowdown in annual growth. The stock was down 15%.PayPal (PYPL) shares were down 9.1% intraday, the third-worst performer on the S&P 500. The payments company said it was targeting at least $1.5 billion in cost cuts over the next few years, while it maintained its full-year earnings outlook.Palantir Technologies (PLTR) shares were down 6.6% intraday, among the worst performers on the S&P 500, despite the software maker raising its 2026 revenue outlook and first-quarter results topping Wall Street's expectations.Advanced Micro Devices (AMD) and Arista Networks (ANET) are expected to announce their earnings after the markets close.In economic news, two surveys released Tuesday painted a mixed picture of the US services sector in April, with Institute for Supply Management data showing a deceleration in growth and an S&P Global (SPGI) report indicating a return to expansion."The services sector continues to expand, but the sharp cooling in new orders alongside still-subdued employment momentum suggests growth may be becoming less durable," TD Economics Senior Economist Vikram Rai said in a note.On Friday, ISM and S&P surveys showed that the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict.New-home sales in the US grew past Wall Street's estimates for March, driven by a demand surge in the Northeast region, government data showed.Gold rose 0.7% to $4,566.70 per troy ounce, while silver advanced 0.4 % to $73.82 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$PINS$PLTR$PLYPL$SHOP$SPGI
Wire

Top Midday Stories: PayPal Q2 EPS Guide Undershoots Expectations, Plans 20% Workforce Cut; Palantir Shares Fall Despite Strong Earnings, Guidance

All three major US stock indexes were up in late-morning trading Tuesday, as oil prices slid despite new attacks in the Strait of Hormuz.In company news, PayPal (PYPL) reported Q1 non-GAAP earnings Tuesday of $1.34 per diluted share, up from $1.33 a year earlier and above the FactSet consensus estimate of $1.27. Net Q1 revenue was $8.35 billion, up from $7.79 billion a year ago and above the FactSet consensus of $8.05 billion. For Q2, the company said it expects to post a roughly 9% decline in non-GAAP EPS from $1.40 a year earlier to about $1.27. Analysts polled by FactSet expect $1.34. Additionally, PayPal is planning to cut around 20% of its workforce over the next two to three years, Bloomberg reported Tuesday, citing a person familiar with the matter. PayPal shares were down 8.1% around midday.Palantir Technologies (PLTR) reported Q1 adjusted earnings late Monday of $0.33 per diluted share, up from $0.13 a year earlier and above the FactSet consensus of $0.28. First-quarter revenue was $1.63 billion, up from $883.9 million a year ago and above the FactSet consensus of $1.54 billion. For Q2, Palantir said it expects revenue of $1.797 billion to $1.801 billion, above the FactSet consensus of $1.68 billion. For full-year 2026, the company said it expects revenue of $7.65 billion to $7.66 billion, above the FactSet consensus of $7.24 billion. Palantir shares were down 6.3%.Alphabet (GOOG, GOOGL) will raise at least 9 billion euros ($10.5 billion) from its biggest ever euro-denominated bond sale, Bloomberg reported Tuesday, citing a person familiar with the matter. Separately, Alphabet's Google DeepMind, Microsoft (MSFT) and xAI signed new agreements with the Center for AI Standards and Innovation to assess AI security issues before they are released, CAISI said Tuesday. Alphabet's Class C shares were up 1.4%, while its Class A shares were up 1.5%. Microsoft shares were down 0.8%.Apple (AAPL) has held early talks with Intel (INTC) and Samsung Electronics on producing key device processors in the US, Bloomberg reported Tuesday, citing people familiar with the matter. Apple shares were up 1.1%, and Intel shares were up 13.8%.Shopify (SHOP) reported a Q1 loss Tuesday of $0.45 per diluted share, narrowing from a loss of $0.53 a year earlier. Analysts surveyed by FactSet expected earnings of $0.24. First-quarter revenue was $3.17 billion, up from $2.36 billion a year ago and above the FactSet consensus of $3.11 billion. Shopify shares were down 11%.Pfizer (PFE) reported Q1 adjusted earnings Tuesday of $0.75 per diluted share, down from $0.92 a year earlier but above the FactSet consensus of $0.72. First-quarter revenue was $14.45 billion, up from $13.72 billion a year ago and above the FactSet consensus of $13.84 billion. The company reaffirmed its full-year 2026 EPS and revenue guidance ranges of $2.80 to $3.00 and $59.5 billion to $62.5 billion, respectively. Analysts polled by FactSet expect $2.96 and $61.38 billion, respectively. Pfizer shares were down 0.7%.Price: $46.33, Change: $-4.06, Percent Change: -8.06%

$AAPL$GOOG$GOOGL$INTC$MSFT$PFE$PLTR$PYPL$SHOP
Wire

Palantir Technologies' Artificial Intelligence Platform 'Unmatched,' Wedbush Says

Palantir Technologies (PLTR) continues to be a major beneficiary of the artificial intelligence shift, with its Artificial Intelligence Platform "unmatched" in the industry, Wedbush said in a Tuesday note.The company delivered strong Q1 financial results, with total revenue at its highest ever year-over-year growth rate of 85% as its Artificial Intelligence Platform continues to gain "unprecedented" traction across the enterprise and federal sectors, Wedbush analysts said.US business grew 104% from a year ago, surpassing the $5 billion annualized revenue run rate and validating the analysts' long-term thesis that the platform is becoming the default operating system for AI for large businesses, according to the note.Palantir has once again boosted full-year 2026 guidance across the board, capitalizing on surging demand for its AI capabilities, the note said. The analysts said they considered the company to be one of the top tech names to own for the year.Wedbush maintained the company's stock rating at outperform and price target at $230.Price: $137.54, Change: $-8.49, Percent Change: -5.81%

$PLTR
Wire

Citigroup Raises Price Target on Palantir Technologies to $225 From $210, Maintains Buy Rating

Palantir Technologies (PLTR) has an average rating of overweight and mean price target of $185.61, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $138.13, Change: $-7.90, Percent Change: -5.41%

$PLTR
Asia Markets

US Equity Futures Gain Pre-Bell as Traders Keep Eye on Potential Re-Escalation of Middle East Hostilities

US equity futures were higher pre-bell Tuesday as traders kept a close watch on the potential re-escalation of hostilities in the Middle East.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.8% higher.The UAE said that it was attacked by Iranian drones and missiles, while the US said it sank Iranian boats in the Strait of Hormuz.President Donald Trump had said that the US would help guide vessels stranded in the Persian Gulf. In a post Monday on Truth Social, he said that a South Korean cargo ship had been damaged by Iran, but the US had shot down seven Iranian small boats."Other than the South Korean Ship, there has been, at this moment, no damage going through the Strait," Trump said.Traders digested the latest round of earnings, with Palantir Technologies (PLTR) and Vertex Pharmaceuticals (VRTX) reporting higher Q1 adjusted earnings and revenue. HSBC (HSBC) also posted an increase in Q1 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.2% at $111.91 per barrel and US West Texas Intermediate crude 3.2% lower at $103.04 per barrel.The US international trade deficit widened to $60.31 billion in March from a $57.78 billion gap in February, compared with a $61.0 billion gap expected in a survey compiled by Bloomberg as of 7:40 am ET.The S&P Global purchasing managers' index composite final report for April, due at 9:45 am ET, is seen reporting 52.1 versus 52.0 previously.March new home sales report, due at 10 am ET, is expected to post a 652,000 annual rate. The April Institute for Supply Management's services index is projected at 53.7 versus 54.0 previously. March job openings from the US Department of Labor's Job Openings and Labor Turnover Survey are expected to come in at 6.850 million compared with 6.882 million in the prior month.Federal Reserve Vice Chair for Supervision Michelle Bowman and Fed Governor Michael Barr are due to speak today.In other world markets, Japan's Nikkei and China's Shanghai Composite were closed due to public holidays. Hong Kong's Hang Seng ended 0.8% lower. The UK's FTSE 100 was down 1.4%, and Germany's DAX index was 1.6% higher in Europe's early afternoon session.In equities, Intel (INTC) shares were up 3.8% after Bloomberg reported the Apple (AAPL) has held early discussions with the company and Samsung Electronics on producing key device processors in the US. Anheuser-Busch InBev (BUD) stock was up 6.6% after the company reported fiscal Q1 underlying earnings and revenue that beat analysts' estimates. Pinterest (PINS) shares were up 18% after the company posted higher Q1 non-GAAP earnings and revenue that beat analysts' consensus.On the losing side, Palantir and HSBC shares were down 1.3% and 3.9%, respectively, after they reported Q1 financial results. Shopify (SHOP) stock was 5.9% lower after the company reported a Q1 loss while analysts expected earnings.

Dow JonesNasdaq CompositeS&P 500$AAPL$BUD$HSBC$INTC$PINS$PLTR$SHOP$VRTX
Japan

US Equity Futures Higher Pre-Bell as Traders Keep Eye on Potential Re-Escalation of Middle East Hostilities

US equity futures were higher pre-bell Tuesday as traders kept a close watch on the potential re-escalation of hostilities in the Middle East.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.6% higher.The UAE said that it was attacked by Iranian drones and missiles, while the US said it sank Iranian boats in the Strait of Hormuz.President Donald Trump had said that the US would help guide vessels stranded in the Persian Gulf. In a post Monday on Truth Social, he said that a South Korean cargo ship had been damaged by Iran, but the US had shot down seven Iranian small boats."Other than the South Korean Ship, there has been, at this moment, no damage going through the Strait," Trump said.Traders digested the latest round of earnings, with Palantir Technologies (PLTR) and Vertex Pharmaceuticals (VRTX) reporting higher Q1 adjusted earnings and revenue. HSBC (HSBC) also posted a Q1 increase in earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.6% at $112.67 per barrel and US West Texas Intermediate crude 2.4% lower at $103.94 per barrel.The international trade in goods report, scheduled for release at 8:30 am ET, is expected to post a deficit widening to $61 billion from $57.3 billion in the prior month, according to estimates compiled by Bloomberg. The purchasing managers' index composite final report for April, due at 9:45 am ET, i is seen coming in at 52.1 versus 52.0 previously.March new home sales, due at 10 am ET, is seen coming in at a 652,000 annual rate. The April Institute for Supply Management's services index is projected at 53.7 versus 54.0 previously. March job openings from the Department of Labor's Job Openings and Labor Turnover Survey are expected to come in at 6.850 million compared with 6.882 million in the prior month.Federal Reserve Vice Chair for Supervision Michelle Bowman is slated to speak at 10 am, while Fed Governor Michael Barr speaks at 12:30 pm.

Dow JonesNasdaq CompositeS&P 500$HSBC$PLTR$VRTX
US Markets

Stocks Rise Pre-Bell as Investors Await More Earnings, Monitor Middle East Developments

US equity futures were trending higher on Tuesday as traders await a fresh batch of corporate earnings and monitor developments in the Middle East.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each in premarket activity, while the Nasdaq added 0.6%. The indexes finished the previous trading session lower.Shopify (SHOP), Pfizer (PFE), Duke Energy (DUK), KKR (KKR), Ferrari (RACE), American Electric Power (AEP), Transdigm (TDG), PayPal (PYPL) and Rockwell Automation (ROK) report their latest financial results before the bell, among others.Advanced Micro Devices (AMD), Arista Networks (ANET) and Strategy (MSTR) are expected to announce their earnings after the markets close.Shares of Palantir Technologies (PLTR) fell 3.3% pre-bell even though the software maker raised its full-year revenue outlook and reported first-quarter results above Wall Street's expectations. Pinterest (PINS) jumped 17% as the image-sharing platform company recorded better-than-expected first-quarter results.Investors were watching developments in the Middle East closely after a day of heightened tensions in the Strait of Hormuz. The US military destroyed six Iranian boats on Monday in the strait after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command. A senior Iranian military official reportedly disputed that claim.Iran fired missiles and drones at the United Arab Emirates, the UAE's Defense Ministry said in a post on X.President Donald Trump told Fox News on Monday that Iran will be "blown off the face of the Earth" if they attack US vessels that support his initiative to escort commercial ships through the Strait of Hormuz.West Texas Intermediate crude oil declined 2.2% to $104.09 a barrel before the opening bell, while Brent decreased 1.4% to $112.79."Absent a reopening of the strait within the next several weeks, the global oil market, in our view, is likely to enter a period of explicit demand rationing within the current quarter," Wells Fargo Investment Institute Chief Investment Officer Darrell Cronk said Monday.Tuesday's economic calendar has the international trade in goods and services report for March at 8:30 am ET, followed by the purchasing managers' index composite final report from S&P Global (SPGI) for April at 9:45 am.New home sales reports for February and March are expected to be out at 10 am, along with the Institute for Supply Management's services index for the previous month. The Job Openings and Labor Turnover Survey for March also posts at 10 am.Federal Reserve Vice Chair for Supervision Michelle Bowman is slated to speak at 10 am, while Fed Governor Michael Barr speaks at 12:30 pm.New York Fed President John Williams said Monday that the Middle East conflict could keep inflation elevated for some time.Treasury yields were down in premarket action, with the two-year rate retreating 2.8 basis points to 3.93% and the 10-year rate off 2.2 basis points to 4.42%.Gold inclined 0.7% to $4,563 per troy ounce, while bitcoin advanced 1% to $80,756.

Dow JonesNasdaq CompositeS&P 500$AEP$AMD$ANET$DUK$KKR$MSTR$PFE$PINS$PLTR$PYPL$RACE$ROK$SHOP$TDG
Research

Research Alert: CFRA Maintains Buy Rating On Shares Of Palantir Technologies Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We lower our target price to $192 from $203, based on an EV/S of 60x our 2026 sales forecast of $7.665 billion, above its three-year average on sequential growth acceleration. We increase our 2026 EPS estimate to $1.39 from $1.25 and lift our 2027 EPS forecast to $1.97 from $1.61. PLTR reported exceptional first quarter results with revenue surging 85% Y/Y to $1.633B, driven by triple-digit U.S. growth of 104%. U.S. Commercial revenue grew 133% Y/Y (would have been 143% excluding a customer transition to government), while U.S. Government revenue expanded 84% to $687M. The quarter showcased PLTR's strong execution with its AIP platform dominance driving U.S. growth, with management emphasizing AIP's unique position as the "no slop zone" for enterprise AI. The large upward revision in the full year revenue guidance ($466M at the midpoint of the range) supports our view that demand remains durable, and PLTR continues to take share in its space. Profitability metrics demonstrated strong margin expansion.

$PLTR
Research

Research Alert: Pltr: Another Exceptional Quarter As Commercial Segment Powers Acceleration

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PLTR delivered another blowout quarter with revenue of $1.633B, up 85% Y/Y and 16% Q/Q, exceeding guidance and beating consensus by $90M. Adjusted EPS of $0.33 and GAAP EPS of $0.34 beat Street estimates by $0.05, while the Rule of 40 score reached 145%, up from 127% in Q4. The 85% Y/Y revenue growth marked PLTR's highest-ever growth rate, driven by explosive U.S. market momentum where revenue more than doubled at 104% Y/Y to $1.282B. U.S. commercial revenue of $595M grew 133% Y/Y, while government revenue of $687M expanded 84% Y/Y. International commercial revenues returned to double-digit growth at 26% Y/Y after six quarters of muted performance. Profitability metrics expanded substantially with GAAP operating margin reaching 46% and adjusted operating margin hitting 60%. Management raised full-year 2026 guidance dramatically to $7.650B-$7.662B (71% Y/Y growth), representing a 10%-pt increase from prior expectations and significantly exceeding consensus of $7.277B.

$PLTR
US Markets

Palantir Technologies Raises 2026 Revenue Guidance After First-Quarter Beat

Palantir Technologies (PLTR) late Monday raised its 2026 revenue outlook following first-quarter results that outperformed Wall Street expectations as the software maker's US sales more than doubled.Adjusted earnings totaled $0.33, compared with the FactSet-polled consensus of $0.28. Consolidated revenue improved 85% to $1.63 billion, ahead of the Street's view for $1.54 billion.US revenue advanced 104% year over year to $1.28 billion in the first quarter, with commercial sales more than doubling from last year, Palantir said.Shares were up 0.6% in after-hours trade.Palantir's software is used by both government and commercial enterprises, including the American defense sector. Its Artificial Intelligence Platform drives automation across operational processes.Late last month, Wedbush Securities expected Palantir to log a strong first-quarter performance, driven by its AIP, which accelerated demand from government and commercial clients."We continue to believe Palantir has the potential to be a trillion-dollar market cap company in the next few years as the AI revolution takes hold and the company sees accelerating demand for its AI products and services," Wedbush analysts, including Dan Ives, said.For 2026, the company raised its revenue outlook to between $7.650 billion and $7.662 billion from $7.182 billion and $7.198 billion, reflecting an upgraded outlook for the US commercial business. Market projections point to consolidated sales of $7.25 billion.Palantir forecasts second-quarter revenue of $1.797 billion to $1.801 billion, compared with the Street's $1.68 billion estimate.Palantir is expanding its federal footprint, including a recent $300 million Department of Agriculture contract to manage farmland assets amid rising geopolitical risks, Ives said. The company is also eyeing a deal with the Federal Aviation Administration to integrate AI tools for air traffic controls."With the company continuing to strategically innovate its product suite while investing in top talent and maintaining a global presence, we believe that (Palantir) has a golden path to become the next stalwart software company over the coming years and will grow into its valuation," Wedbush said.The stock is down nearly 18% year to date through Monday's close.

$PLTR
US Markets

Equities Fall Intraday, Oil Prices Climb as Traders Monitor Middle East Developments

US benchmark equity indexes were lower intraday and oil prices jumped as fighting in the Iran war flared up again.The Dow Jones Industrial Average was down 1% at 49,011.4 after midday Monday, while the S&P 500 lost 0.5% to 7,196.7. The Nasdaq Composite fell 0.3% to 25,038.8. The Nasdaq and the S&P 500 reached new peaks in the previous session.Barring energy, all sectors were in the red, led by materials.Brent crude jumped 6.1% to $114.79 per barrel, while West Texas Intermediate crude rose 4% to $106.13.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command.Tehran fired missiles and drones at the United Arab Emirates, the UAE's Defence Ministry said in a post on X earlier in the day.US President Donald Trump's initiative to escort commercial ships through the Strait of Hormuz began on Monday. Two US-flagged vessels passed through the strait, the Central Command said Monday, after denying claims from Iran that a US ship had been hit.Iran's Islamic Revolutionary Guard Corps said no commercial vessels or oil tankers had transited the narrow waterway, CNN reported.Meanwhile, the Israeli military reportedly issued an evacuation order for 10 villages in southern Lebanon."Notwithstanding the recent powerful rallies in stocks, challenges remain to finding resolution for the conflict and in our view persist as a potential negative overhang to market performance with news flow from the Middle East, the price of oil, and supply chain disruptions adding to inflation risks near term," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a report. "That said, stock prices in the US continue to reflect in our view an appreciation for the fundamentals that matter most for revenue and profit growth."S&P 500 companies' quarterly earnings and revenue growth accelerated compared with figures from a week ago, Oppenheimer Asset Management said Monday.In company news, Norwegian Cruise Line (NCLH) lowered its full-year earnings outlook on Monday amid higher fuel costs and weak consumer demand due to the Middle East conflict, while the cruise operator's first-quarter revenue fell short of market estimates. The stock was down 8.9% intraday, the second-worst performer on the S&P 500.EBay (EBAY) shares were up 5.6%, among the best performers on the S&P 500, after video game retailer GameStop (GME) proposed to acquire the e-commerce company in a cash-and-stock deal worth about $55.5 billion. Shares of GME slumped 7.7%.Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Disney (DIS), Uber Technologies (UBER), Shopify (SHOP), Pfizer (PFE) and McDonald's (MCD) are among major companies that are scheduled to release quarterly financials this week.Traders will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for March on Tuesday, followed by the ADP employment report for April on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively."Focus shifts from Big Tech to consumer-facing earnings and macro validation," Saxo Bank said in a report. "US earnings from Disney, Airbnb (ABNB), and McDonald's will test demand resilience, while the US jobs report will determine whether strong growth can sustain current equity levels."US Treasury yields were higher intraday, with the 10-year rate up seven basis points at 4.45% and the two-year rate rising 8.5 basis points to 3.98%.Gold fell 2.2% to $4,540.50 per troy ounce, while silver declined 3.7% to $73.62 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$AMD$DIS$EBAY$GME$MCD$NCLH$PFE$PLTR$SHOP$UBER
US Markets

S&P 500 Companies' Quarterly Profit, Revenue Growth Accelerates, Oppenheimer Says

S&P 500 companies' quarterly earnings and revenue growth accelerated compared with figures from a week ago, Oppenheimer Asset Management said Monday.Some 63% of companies in the benchmark equity index have reported results in the latest cycle, with earnings up 28% from a year earlier and revenue growing 11%. Last week's report by the brokerage showed profit and revenue growth at about 25% and 10%, based on financials reported by 28% of the index constituents.Ahead of the reporting season, FactSet put expected earnings growth at 12.6% from a year earlier, according to Oppenheimer.Of the companies that have reported results so far, 81% have exceeded analyst estimates, Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Among sectors, communication services and consumer discretionary outperformed in terms of earnings, with profits up by more than 50% each year over year. Technology led the chart for revenue growth, with a 22% increase, followed by communication services' 16% jump.This will be another busy week for corporate earnings, with Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Disney (DIS), Uber Technologies (UBER) and McDonald's (MCD) due to post their financials.On Friday, the S&P 500 and the Nasdaq Composite reached new all-time closing highs.President Donald Trump has launched "Project Freedom" to escort commercial ships through the Strait of Hormuz. Two US-flagged vessels passed through the strait, the US Central Command said Monday, after denying claims from Iran that a US ship had been hit."Notwithstanding the recent powerful rallies in stocks, challenges remain to finding resolution for the conflict and in our view persist as a potential negative overhang to market performance with news flow from the Middle East, the price of oil, and supply chain disruptions adding to inflation risks near term," Stoltzfus said. "That said, stock prices in the US continue to reflect in our view an appreciation for the fundamentals that matter most for revenue and profit growth."Price: $148.03, Change: $+3.96, Percent Change: +2.75%

$AMD$DIS$MCD$PLTR$UBER
Asia Markets

US Equity Futures Slip Pre-Bell as Middle East Conflict Enters Third Month, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2% at $110.31 per barrel and US West Texas Intermediate crude 0.8% higher at $102.72 per barrel.March factory orders, due at 10 am ET, are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.In other world markets, Japan's Nikkei, China's Shanghai Composite, and the UK's FTSE 100 were all closed due to public holidays. Hong Kong's Hang Seng ended 1.2% higher. Germany's DAX index was flat in Europe's early afternoon session.In equities, Alibaba (BABA) shares rose 2% after Chinese robotics startup Linkerbot, which is backed by Alibaba unit Ant Group, said it will seek a $6 billion valuation in its next funding round, according to a Reuters report. EBay (EBAY) stock was 7.5% higher after GameStop (GME) said it submitted a non-binding proposal to acquire all outstanding shares of eBay for $125 each. Tyson Foods (TSN) shares were up 1.6% after the company reported fiscal Q2 adjusted earnings and sales that surpassed analysts' consensus.On the losing side, Norwegian Cruise Line (NCLH) stock was down 5.9% after the company issued lower-than-expected Q2 adjusted earnings guidance and trimmed its 2026 adjusted EPS outlook.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$BABA$EBAY$GME$HSBC$MCD$NCLH$PLTR$SHEL$TSN
Japan

US Equity Futures Slip as Middle East Conflict Enters Third Month, Oil Prices Rise

US equity futures were lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 3.4% at $111.89 per barrel and US West Texas Intermediate crude 2.9% higher at $104.93 per barrel.March factory orders are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$HSBC$MCD$PLTR$SHEL
Research

HSBC Downgrades Palantir Technologies to Hold From Buy, Adjusts Price Target to $151 From $205

Palantir Technologies (PLTR) has an average rating of overweight and mean price target of $185.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$PLTR
US Markets

Stocks Mostly Down Pre-Bell as Traders Assess Middle East Developments, Await Fresh Labor Data

The benchmark US stock measures were mostly pointing lower before the opening bell Monday as investors assess the latest developments in the Middle East involving the Strait of Hormuz and await fresh labor market data later in the week.The S&P 500 fell 0.1% and the Dow Jones Industrial Average declined 0.3% in premarket activity, while the Nasdaq was slightly in the green. The S&P 500 and the Nasdaq closed Friday's trading session with new record highs, while the Dow finished in the red.In a social media post on Sunday, President Donald Trump said the US will start guiding some neutral ships "locked up" in the Strait of Hormuz out of the crucial waterway. The initiative, dubbed "Project Freedom," is scheduled to begin on Monday, Trump said."These are ships from areas of the world that are not in any way involved with that which is currently taking place in the Middle East," according to Trump. "If, in any way, this humanitarian process is interfered with, that interference will, unfortunately, have to be dealt with forcefully."US Central Command said Sunday it will provide military support to restore commercial shipping through the strait, including the use of guided-missile destroyers.Iran's Fars news agency said two missiles hit a US warship in the Strait of Hormuz, Reuters reported Monday. US Central Command reportedly said that no US navy ships had been struck.Iran reportedly said Sunday it's reviewing a response from Washington to its latest offer for a peace deal, CNBC reported, citing Iranian state media. Tehran had reportedly sent an updated proposal to the US through Pakistani mediators.West Texas Intermediate crude oil climbed 4.7% to $106.76 a barrel before the open, while Brent advanced 4.8% to $113.37.Investors will be looking ahead to fresh labor market data later this week, beginning with the Job Openings and Labor Turnover Survey for March on Tuesday, followed by the ADP employment report for April on Wednesday. The Challenger Job Cut report and the government's nonfarm payrolls data, both for last month, are scheduled to be released on Thursday and Friday, respectively.Treasury yields were moving higher in premarket action, with the two-year rate inclining 3.9 basis points to 3.93% and the 10-year rate gaining 3 basis points to 4.41%.Federal Reserve Bank of New York President John Williams is slated to speak at 12:50 pm ET.Several major companies are expected to release their latest financial results this week, including Advanced Micro Devices (AMD), Walt Disney (DIS), McDonald's (MCD), Uber Technologies (UBER), Shopify (SHOP) and Pfizer (PFE).Palantir Technologies (PLTR) is set to announce its earnings after the markets close, while Tyson Foods (TSN) posts its results before the bell, among others.Shares of eBay (EBAY) jumped 10% pre-bell after video game retailer GameStop (GME) said it has sent a proposal to acquire the e-commerce company in a deal worth about $55.5 billion. Nebius' (NBIS) US-listed stock increased 2.5%.Gold fell 1.9% to $4,555 per troy ounce, while bitcoin nudged up 0.3% to $79,000.

Dow JonesNasdaq CompositeS&P 500$AMD$DIS$EBAY$GME$MCD$NBIS$PFE$PLTR$SHOP$TSN$UBER
Japan

Update: US Equity Investors to Focus This Week on Risk of Iran Ceasefire Falling Apart, Earnings, Nonfarm Payrolls

(Updates to add more information on the headline)US equity investors will look out for Iran ending its ceasefire agreement with Washington if the US military escorts ships stranded in the Strait of Hormuz, while focusing on mega-cap quarterly earnings and labor market data this week.* An Iranian official warned the US will be attacked if it tries to approach or enter the Strait of Hormuz, after President Donald Trump said the US military will begin guiding stranded ships through the chokepoint on Monday, CNN reported. US Central Command said it would support the effort with 15,000 military personnel, more than 100 land and sea-based aircraft, warships, and drones, Reuters reported.* Concurrently, Trump reported "very positive discussions" with Iran, according to CNN. The Iranian Foreign Ministry is reviewing the US' reply to Tehran's latest peace proposal, CNN reported, citing the ministry.* Meanwhile, West Texas Intermediate crude oil futures rose 1.3% to $103.27, and Brent crude futures climbed 1.3% to $109.62 early Monday. Most US Treasury yields also advanced, with the 10-year up two basis points to 4.4% and the two-year higher by 2.3 basis points to 3.91%.* Quarterly earnings due this week include Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Arista Networks (ANET), Arm Holdings (ARM), Uber Technologies (UBER), Applovin (APP), Shell (SHEL), McDonald's (MCD), and Walt Disney (DIS).* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP private payrolls, Challenger job cuts, ISM services PMI, and the University of Michigan's preliminary consumer sentiment and inflation expectations.* Europe will respond should Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, Eurogroup President Kyriakos Pierrakakis told Bloomberg. "The number one choice is always dialogue," he said. "If there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table."

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$ARM$DIS$MCD$PLTR$SHEL$UBER
Asia Markets

US Equity Investors to Focus on Risk of Iran Ceasefire Falling Apart, Quarterly Earnings, Nonfarm Payrolls

US equity investors will look out for Iran ending its ceasefire agreement with Washington if the US military escorts ships stranded in the Strait of Hormuz, while focusing on mega-cap quarterly earnings and labor market data this week.* An Iranian official warned the US will be attacked if it tries to approach or enter the Strait of Hormuz, after President Donald Trump said the US military will begin guiding stranded ships through the chokepoint on Monday, CNN reported. US Central Command said it would support the effort with 15,000 military personnel, more than 100 land and sea-based aircraft, warships, and drones, Reuters reported.* Concurrently, Trump reported "very positive discussions" with Iran, according to CNN. The Iranian Foreign Ministry is reviewing the US' reply to Tehran's latest peace proposal, CNN reported, citing the ministry.* Meanwhile, West Texas Intermediate crude oil futures rose 1.3% to $103.27, and Brent crude futures climbed 1.3% to $109.62 early Monday. Most US Treasury yields also advanced, with the 10-year up two basis points to 4.4% and the two-year higher by 2.3 basis points to 3.91%.* Quarterly earnings due this week include Palantir Technologies (PLTR), Advanced Micro Devices (AMD), Arista Networks (ANET), Arm Holdings (ARM), Uber Technologies (UBER), Applovin (APP), Shell (SHEL), McDonald's (MCD), and Walt Disney (DIS).* Macroeconomic data due this week include nonfarm payrolls, JOLTS job openings, ADP private payrolls, Challenger job cuts, ISM services PMI, and the University of Michigan's preliminary consumer sentiment and inflation expectations.* Europe will respond should Trump follow through on his threat to raise tariffs on cars and trucks from the European Union to 25%, Eurogroup President Kyriakos Pierrakakis told Bloomberg. "The number one choice is always dialogue," he said. "If there is a deviation from what we have agreed upon, obviously all options are on the table and all choices will be on the table."

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$ARM$DIS$MCD$PLTR$SHEL$UBER
Wire

Palantir Seen Benefiting From AI Platform Strength, Defense Spending, Commercial Growth, Oppenheimer Says

Palantir Technologies (PLTR) could benefit from a sticky AI software platform with high switching costs, rising government defense spending, expanding commercial adoption and valuation support, Oppenheimer said in a research note Thursday.The company's customized ontology-based systems become difficult to replace once embedded in customer operations. The company continues to expand in commercial markets and its customer count rose to 780 in 2025 from 375 in 2023, the investment firm said.Oppenheimer said US and allied military spending is shifting toward AI-enabled software. This supports Palantir's government opportunity. Government software and services spending is expected to grow to $666 billion by 2029 from $490 billion in 2025.The firm said Palantir still has a long runway for commercial expansion which is supported by a $2.1 trillion addressable market by 2030. The company's premium valuation is supported by its government contracts, accelerating commercial growth and improving margins, according to the note.Oppenheimer initiated coverage with an outperform rating and a $200 price target.Price: $138.98, Change: $+1.01, Percent Change: +0.73%

$PLTR
Research

Oppenheimer Initiates Palantir Technologies at Outperform With $200 Price Target

Palantir Technologies (PLTR) has an average rating of overweight and mean price target of $190.48, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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