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Software Companies' Second-Quarter Beat Rate Accelerates Sequentially, RBC Says
US Markets

Software Companies' Second-Quarter Beat Rate Accelerates Sequentially, RBC Says

Software companies' revenue and earnings beat rates accelerated sequentially in the second quarter, driven by strength in infrastructure, security, and observability, RBC Capital Markets said in a note emailed Wednesday.Among the 54 on-quarter software companies that have reported results in the most recent cycle, the average company topped Wall Street's revenue estimates by 2.6%, up from a 2.4% beat in the first quarter, according to the brokerage. The profitability measure surpassed consensus expectations by 21.2%, compared with the first quarter's 15.7%."The biggest (second-quarter) revenue beats came from infrastructure, security, and observability while the smallest beats came from back Office, (software-as-a-service), and vertical," Matthew Hedberg, RBC's head of global technology, Internet, media, and telecommunications research, said in the note.The annual recurring revenue-to-billings ratio exceeded estimates by 3.4%, reaching the highest level in four years.Palantir Technologies (PLTR), Twilio (TWLO), Cloudflare (NET), and Xometry (XMTR) registered positive stock moves the day after results as they posted accelerated revenue beats, Hedberg said. Other companies that helped buoy sentiment were those with positive commentary on artificial intelligence tailwinds or adoption.Datadog (DDOG) and Varonis Systems (VRNS) logged share price declines post earnings as they "did not clear high bars," while HubSpot's (HUBS) stock traded lower amid reduced guidance, according to the RBC note. Meanwhile, EverCommerce (EVCM), IBM (IBM), N-able (NABL), and Pegasystems (PEGA) seem to be navigating a tough spending environment."While software stock movement has bifurcated through 2026 over perceived AI leaders/laggards, (second-quarter) showed a clear sign of bifurcating fundamentals with numerous companies seeing pressure from AI spending taking away budget or delaying decision-making," RBC analysts said.The brokerage said the full-year 2026 revenue outlook was 0.7% above consensus on average as top-line guides came in better than expected, while full-year profitability guidance topped market expectations by 2.8%.Salesforce (CRM), CrowdStrike (CRWD), Nutanix (NTNX), Okta (OKTA) and Veeva Systems (VEEV) are scheduled to report off-quarter results on Aug. 26."Similar to the (on-quarter) cohort, we expect price action for the (off-quarter) cohort to be volatile with a bifurcation in the AI haves and have not," RBC said.

$CRM$CRWD$DDOG$EVCM$HUBS$IBM$NABL$NET$NTNX$OKTA$PEGA$PLTR$TWLO$VEEV$VRNS$XMTR
Snowflake Faces High But 'Achievable' Sales Growth Expectations, UBS Says
US Markets

Snowflake Faces High But 'Achievable' Sales Growth Expectations, UBS Says

Snowflake (SNOW) faces high revenue growth expectations heading into its fiscal second-quarter results, though accelerating enterprise demand for artificial intelligence tools makes those targets "achievable," UBS Securities said in a note e-mailed Tuesday.The cloud-based data platform's investors are eyeing sales growth of 36% to 37% for the quarter and see the company exiting fiscal 2027 at a high-30% to 40% rate, according to UBS."In our view, the demand trends are strong enough such that we conclude these bogeys are achievable," UBS analyst Karl Keirstead said in a note to clients.Partner and customer checks show enterprise adoption of AI tools is directly driving increased usage on the platform. "Net, the AI pull-through to Snowflake spend is real and picking up momentum," Keirstead wrote.The company is scheduled to report second-quarter results Sept. 2."One lingering investor concern is that the frontier models are getting so good at data tasks that customers can use them directly in lieu of spending on data software firms," Keirstead said. "We vetted this potential and conclude that very few enterprises are directly harnessing the data capabilities of (large language models) in a way that is curtailing spend on Snowflake, Palantir (PLTR) or Databricks."UBS raised its price target on the Snowflake stock to $425 from $370 and reiterated its buy rating.The company's shares were down 1.7% in Tuesday afternoon trade. The stock has jumped 48% so far this year.Earlier in the month, Palantir lifted its full-year revenue guidance after a surge in US commercial sales drove stronger-than-expected second-quarter results.Last week, RBC Capital Markets said several major software companies are likely to top expectations for their upcoming quarterly financial results amid an "incrementally more optimistic" feedback from resellers and other factors. The firm raised price targets for 12 of the 14 software providers in its sector coverage, including CrowdStrike (CRWD) and Snowflake, which it tagged as its "favorite growth idea."Price: $323.43, Change: $-6.68, Percent Change: -2.02%

$CRWD$PLTR$SNOW
Wire

Top Midday Stories: Nvidia Investing $1.5 Billion in SB Energy; L3Harris Names Sam Mehta as CEO, Replacing Christopher Kubasik

The Nasdaq Composite was up, while the Dow Jones Industrial Average and S&P 500 Index were down in late-morning trading Monday, as oil prices rose amid ongoing tensions in the Middle East.In company news, Nvidia (NVDA) said Monday it is investing $1.5 billion in SB Energy to support its growth as an artificial intelligence infrastructure developer. The chipmaker has entered into a partnership with SB Energy to become the exclusive AI compute infrastructure provider at the PORTS-Pike Technology Campus in Pike County, Ohio. SB Energy will build, own and operate the data center under a 20-year lease to Microsoft-backed (MSFT) OpenAI, which will use the capacity, according to a statement. Nvidia shares were up 1.1%, while Microsoft shares were down 2.2%.L3Harris Technologies (LHX) said Monday it has appointed Sam Mehta as president and chief executive, replacing Christopher Kubasik, who stepped down as chairman and CEO following an investigation into conduct the company said was inconsistent with its code of conduct. Mehta, who joined L3Harris in 2023, most recently led the Space & Mission Systems and Communications & Spectrum Dominance segments. L3Harris shares were down 4.1%.Amazon-backed (AMZN) Anthropic told potential investors that its Q2 revenue jumped at least 14-fold from the year prior to over $11.5 billion, Bloomberg reported, citing internal documents it viewed. Amazon shares were down 0.4%.EyePoint (EYPT) said Monday its Phase 3 Lugano trial testing Duravyu in patients with wet age-related macular degeneration failed to achieve its primary endpoint. The drug missed the main visual acuity goal in the complete dataset because of a patient subgroup with vision loss unrelated to the condition, the company said. EyePoint shares were down 69.3%.Palantir Technologies (PLTR) Co-Founder Peter Thiel has acquired over 1.1 million American depositary shares in Vista Energy (VIST) worth about $75.9 million, according to a filing with the US Securities and Exchange Commission. Palantir shares were up 0.5%.Madison Air Solutions (MAIR) signed a definitive deal to acquire ebm-papst, which specializes in airflow technology, for $5.40 billion, or $5 billion net of future tax savings, the company said Monday. The deal is expected to close around the end of the year, Madison said. Madison Air shares were down 4.4%.Price: $227.00, Change: $+1.84, Percent Change: +0.82%

$AMZN$EYPT$LHX$MAIR$MSFT$NVDA$PLTR$VIST
Sectors

Sector Update: Energy Stocks Edge Higher Premarket Monday

Energy stocks edged higher premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.2%.The United States Oil Fund (USO) was up 0.6% and the United States Natural Gas Fund (UNG) was 1% lower.Front-month US West Texas Intermediate crude oil was 0.5% higher at $82.84 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.7% to $89.14 per barrel, and natural gas futures were down 2.3% at $2.67 per 1 million British Thermal Units.Palantir Technologies (PLTR) Co-Founder Peter Thiel has acquired 1,189,792 American depositary shares in Argentina's Vista Energy (VIST) worth about $75.9 million, according to a US Securities and Exchange Commission filing published Friday. Shares of Vista Energy were up 3.8% pre-bell.Petrobras (PBR) has identified hydrocarbons at its Morpho exploratory well in ultra-deep waters off Amapa, Brazil, the company said. Shares of Petrobras were up 1.7% premarket.Empire Petroleum (EP) stock was up 5.8% after the company said it successfully re-entered and evaluated the Wakefield-Harrison GU B1 well in Texas to a depth of 21,006 feet.

$EP$PBR$PLTR$UNG$USO$VIST$XLE
Commodities

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Monday Amid Lower Rate Hike Expectations

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1% and the actively traded Invesco QQQ Trust (QQQ) was 0.5% higher in Monday's premarket activity amid lower expectations of an interest rate increase.US stock futures were mixed, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures slipping 0.1%, and Nasdaq futures gaining 0.5% before the start of regular trading.The New York Federal Reserve's Empire State manufacturing index rose to 20.6 in August from 15.6 in July, compared with an expected decrease to a reading of 10.0 in a survey compiled by Bloomberg.The National Association of Home Builders' housing market index for August will be released at 10 am ET.In premarket action, bitcoin was up by 0.8%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% higher, Ether ETF (EETH) advanced 1.4%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.4%, the Vanguard Health Care Index Fund (VHT) was down 0.1%, while the iShares US Healthcare ETF (IYH) slipped 0.1%. The iShares Biotechnology ETF (IBB) was up 0.4%.Argenx (ARGX) stock was up more than 11% premarket after the company said a phase 3 study evaluating its experimental drug, Vyvgart Hytrulo, in adults with autoimmune myositis met its primary endpoint.Winners and Losers:EnergyThe iShares US Energy ETF (IYE) was down 0.1%, while the State Street Energy Select Sector SPDR ETF (XLE) retreated 0.1%.Vista Energy (VIST) stock was up more than 4% before market open after a 3.2% rise at Friday's close. A US Securities and Exchange Commission filing published Friday showed that Palantir Technologies (PLTR) Co-Founder Peter Thiel has acquired 1,189,792 American depositary shares in the Argentinian energy company worth about $75.9 million. Palantir stock was 0.6% lower.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.02%, the Vanguard Industrials Index Fund (VIS) was up 0.1%, and the iShares US Industrials ETF (IYJ) was inactive.L3Harris Technologies (LHX) stock was down more than 2% before the opening bell after the company said it appointed Sam Mehta as President and CEO to succeed Christopher Kubasik, who stepped down as chairman and CEO following an investigation.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.6%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.5%, and the iShares US Consumer Staples ETF (IYK) was 1% lower. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.2%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.1% higher.Amazon (AMZN) shares were up more than 1% pre-bell. According to updated user conditions posted on the company's website Friday, Amazon has reinstated binding arbitration for its US customers and barred them from pursuing class action lawsuits.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.9%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1% higher.Riot Platform (RIOT) shares traded up 1% in early hours activity after the company said its wholly owned subsidiary, Riot DC Logistics, entered into a $573 million senior secured delayed-draw term loan credit agreement on Aug. 10.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.3%, the iShares US Technology ETF (IYW) was 0.6% higher, and the iShares Expanded Tech Sector ETF (IGM) was up 0.3%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced 1,4%, while the iShares Semiconductor ETF (SOXX) rose by 1%.Nvidia (NVDA) shares were up 0.7% after a Friday filing with the US Securities and Exchange Commission showed that the company has a $29.99 billion stake in Intel (INTC) and a $20.98 billion stake in Space Exploration Technologies (SPCX) as of June 30. Intel stock was 0.6% higher, while SpaceX was marginally lower.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.4% to reach $82.73 per barrel on the New York Mercantile Exchange. Natural gas was down 2.1% at $2.68 per 1 million British Thermal Units. The United States Oil Fund (USO) gained 0.9%, while the United States Natural Gas Fund (UNG) was 1.7% lower.Gold futures for November were up by 0.2% at $4,443.90 an ounce on the Comex. Silver futures advanced 0.9% to $65.66 an ounce. SPDR Gold Shares (GLD) gained by 0.1%, and the iShares Silver Trust (SLV) was 0.8% higher.

Dow JonesNasdaq CompositeS&P 500$AMZN$ARGX$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$INTC$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LHX$NVDA$PLTR$PMR$QQQ$RIOT$RTH$SLV$SOXX$SPCX$SPY$UNG$USO$VDC$VHT$VIS$VIST$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Energy

Energy stocks were edging higher premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.1%.The United States Oil Fund (USO) was up 0.5% and the United States Natural Gas Fund (UNG) was 1.9% lower.Front-month US West Texas Intermediate crude oil was 0.8% higher at $83.06 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 0.9% to $89.34 per barrel, and natural gas futures were down 2.1% at $2.68 per 1 million British Thermal Units.Palantir Technologies (PLTR) Co-Founder Peter Thiel has acquired 1,189,792 American depositary shares in Argentina's Vista Energy (VIST) worth about $75.9 million, according to a US Securities and Exchange Commission filing published Friday. Shares of Vista Energy were up more than 4% pre-bell.

$PLTR$VIST
Insider Trading

Palantir Technologies Insider Sold Shares Worth $5,449,544, According to a Recent SEC Filing

Shyam Sankar, Chief Technology Officer and Executive Vice President, on August 06, 2026, sold 35,000 shares in Palantir Technologies (PLTR) for $5,449,544. Following the Form 4 filing with the SEC, Sankar has control over a total of 1,242,685 Class A common shares of the company, with 642,786 shares held directly and 599,899 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1321655/000182415926000011/xslF345X05/wk-form4_1786406477.xml

$PLTR
Stocks Mostly Up Pre-Bell as Traders Assess Middle East Developments, Await Key Inflation Data
US Markets

Stocks Mostly Up Pre-Bell as Traders Assess Middle East Developments, Await Key Inflation Data

The benchmark US stock measures were mostly pointing higher before the opening bell Monday as traders monitor the latest developments in the Middle East and await key inflation data later in the week.The S&P 500 edged up 0.1% and the Nasdaq increased 0.4% in premarket activity, while the Dow Jones Industrial Average slipped 0.2%. The indexes finished Friday trading in the green, with the S&P 500 notching a new closing high.Iranian Foreign Minister Abbas Araghchi said Sunday that Tehran isn't in direct talks with Washington to end their war and reopen the Strait of Hormuz, CNBC reported, citing state media. Araghchi noted that the US will still have to meet Iran's conditions to open the strait, even if a deal is finalized with Oman on the crucial waterway.West Texas Intermediate crude oil inclined 0.9% to $78.85 a barrel before the open, while Brent gained nearly 1% to $84.38.President Donald Trump has signaled that he's prepared to let economic pressure take its toll on Iran instead of mounting another military attack, Axios reported Sunday."We are low-keying it," Trump reportedly said in a phone call, according to Axios. "We are only semi-negotiating with them. We are just watching Iran with its huge inflation and the fact they have no money."With no major economic data scheduled for Monday, traders await the consumer price index for July on Wednesday, followed by wholesale prices and retail sales for the same month on Thursday and Friday, respectively.US Treasury yields were mixed in premarket action, with the two-year rate nudging 0.6 basis points higher to 4.21% while the 10-year rate retreated 0.4 basis points to 4.66%.Last week, official data showed that nonfarm payrolls unexpectedly fell in July, marking the first decline since February. The unemployment rate decreased to 4.1%, the lowest since June 2025 when it stood at the same level.Ferguson Enterprises (FERG), Axsome Therapeutics (AXSM) and monday.com (MNDY) report their latest financial results before the bell, among others. Rocket Lab (RKLB) and Hims & Hers Health (HIMS) post their earnings after the markets close.Shares of Plug Power (PLUG) advanced 5% pre-bell while Palantir Technologies (PLTR) was off 1.4% following a 10% jump at the close of Friday. Super Micro Computer (SMCI) climbed 3.2%.Gold inched up 0.1% to $4,402 per troy ounce, while bitcoin slipped 0.3% to $64,972.

Dow JonesNasdaq CompositeS&P 500$AXSM$FERG$HIMS$MNDY$PLTR$PLUG$RKLB$SMCI
Equities

S&P 500 Posts Weekly Gain as Tech Giants Surge

The Standard & Poor's 500 index rose 3.6% this week after technology heavyweights jumped and optimism increased that the Strait of Hormuz will reopen following a deal between Iran and Oman.The market benchmark ended the week at 7,757.64. The index is now up 3.4% quarter to date and 13% this year.Palantir Technologies (PLTR) jumped 40% this week after Q2 sales and adjusted earnings surpassed estimates and the company boosted its full-year 2026 sales outlook.Nvidia (NVDA) jumped 12% this week.An Iranian official said a framework on the Strait of Hormuz has been agreed with Oman, with "a final decision to be made at higher levels," Al Jazeera reported, citing Iranian state media.The information technology sector had the largest percentage gain of the week, up 7.2%, followed by a 5.6% advance in materials and a 3% rise in industrials.Zebra Technologies (ZBRA) reported fiscal Q2 non-GAAP earnings and sales above market expectations, and also lifted its full-year 2026 outlook. Shares jumped 28% this week.Albemarle (ALB) reported Q2 adjusted earnings and sales growth that beat consensus, and raised revenue guidance for the specialties segment to $1.4 billion to $1.6 billion for the full year. Shares advanced 11% this week.The three S&P 500 sectors that declined the most this week were energy, utilities, and real estate, down 3.3%, 1.7% and 0.1%, respectively.NRG Energy (NRG) reported a steeper-than-expected slide in Q2 adjusted earnings. The shares fell 12% in the week.Cisco Systems (CSCO), Applied Materials (AMAT), CoreWeave (CRWV), Rocket Lab (RKLB) and Simon Property Group (SPG) are among the companies reporting quarterly results next week.Economic data due next week include consumer and wholesale price inflation, retail sales, Michigan consumer sentiment and existing home sales.

S&P 500$ALB$AMAT$CRWV$CSCO$NRG$NVDA$PLTR$RKLB$SPG$ZBRA
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
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
Japan

US Equity Markets End Higher as Tech Stocks Rise, Crude Oil Falls on Hormuz Reopening Talks

US equity indexes ended higher Tuesday amid gains in technology stocks following recent earnings reports and as crude oil prices dropped further after Iran confirmed talks to reopen the Strait of Hormuz.* 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, Al Jazeera reported. Qatar said a proposal had been drafted and US Treasury Secretary Scott Bessent sounded hopeful on a US-Iran agreement to reopen the Strait, Bloomberg reported.* 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* 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.* September West Texas Intermediate crude oil fell $4.51 to settle at $75.83 per barrel, while September Brent crude, the global benchmark, was last seen down $4.38 at $79.39.* Palantir Technologies (PLTR) stock was up nearly 30%, the top gainer on the S&P 500 and the Nasdaq, after higher Q2 results surpassed analysts' estimates and the company raised its full-year 2026 revenue outlook.* Aptiv (APTV) shares were down nearly 17%, the worst performer on the S&P 500, after Q2 sales missed consensus and the company also cut its full-year 2026 outlook.

Dow JonesNasdaq CompositeS&P 500$APTV$PLTR
Japan

Update: US Equity Indexes Surge as Technology Leads Amid Strong Earnings While Iran Deal Optimism Pushes Crude Oil Lower

(Updates with index/price moves and geopolitical news from the first paragraph.)US equity indexes jumped as earnings helped propel technology to the top of sector charts, while a slide in crude oil and government bond yields reflected optimism that the Strait of Hormuz could soon reopen.The Nasdaq Composite surged 2.8% to 26,641.2, with the S&P 500 up 2% to 7,750.3 and the Dow Jones Industrial Average higher by 1.9% to 54,208.5 ahead of Tuesday's close. The S&P 500 and the Dow touched their respective 52-week highs earlier in the session. Technology was the standout gainer, followed by materials and industrials. Energy led decliners.Palantir Technologies (PLTR) surged 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 5.8%.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.The front-month US West Texas Intermediate crude oil fell 5.7% to $75.76 a barrel, and global benchmark North Sea Brent slid 5.2% to $79.37 a barrel.US Treasury yields dropped, with the 10-year down 5.7 basis points to 4.63%. The two-year yield slid 5.4 basis points to 4.20%.

Dow JonesNasdaq CompositeS&P 500$PLTR$SMH
Sectors

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were sharply higher late Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 5.4% and the State Street SPDR S&P Semiconductor ETF (XSD) up 6.7%.The Philadelphia Semiconductor Index climbed 7%.In corporate news, Snap (SNAP) shares surged 14% after it reported better-than-expected Q2 results amid growth in advertising revenue.Wix.com (WIX) shares jumped past 17% after it reported better-than-expected Q2 results, driven by demand for its AI-powered tools.Palantir Technologies (PLTR) lifted its full-year revenue guidance on Monday after a surge in US commercial sales drove stronger-than-expected Q2 results. Its shares soared past 29%.Anthropic has inked a $10 billion deal for computing capacity with Volta Infra Holdings, a months-old infrastructure startup backed by Nvidia (NVDA), Bloomberg reported. Nvidia shares rose 3%.

$NVDA$PLTR$SNAP$WIX
Wire

Palantir Well Positioned to Capture Share Across Government, Commercial Businesses, Truist Says

Palantir Technologies (PLTR) is well positioned to capture share across both its government and commercial businesses, after a quarter of accelerating demand, record bookings and largest guidance raise in company history, Truist said in a note Tuesday.The brokerage said the company is seeing significant demand for sovereign AI and views the opportunity as an incremental total addressable market expander.While the company's shares continue to warrant a premium, Truist believes Palantir as one of the clearest beneficiaries of AI adoption in the public markets, according to the note.The company reported Q2 revenue of $1.94 billion, compared with consensus estimate of $1.81 billion, while adjusted earnings was $0.41 per share, compared with estimates of $0.34.The company raised its 2026 revenue outlook to between $8.150 billion and $8.158 billion, which is above the consensus estimate of $7.73 billion.Truist maintained buy rating on the stock with an unchanged $223 price target.Price: $162.58, Change: $+36.93, Percent Change: +29.39%

$PLTR
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
Sectors

Sector Update: Tech Stocks Gain Tuesday Afternoon

Tech stocks were sharply higher Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 5% and the State Street SPDR S&P Semiconductor ETF (XSD) up 6.2%.The Philadelphia Semiconductor index climbed up 6.7%.In corporate news, Palantir Technologies (PLTR) lifted its full-year revenue guidance on Monday after a surge in US commercial sales drove stronger-than-expected Q2 results. Shares jumped past 29%.Anthropic has inked a $10 billion deal for computing capacity with Volta Infra Holdings, a months-old infrastructure startup backed by Nvidia (NVDA), Bloomberg reported. Nvidia shares rose 2.3%.Apple's (AAPL) full-year sales in India have surpassed the $10 billion mark for the first time, Bloomberg reported Tuesday. Revenue grew in double digits in the 12 months through March from about $9 billion a year earlier, a person familiar with the matter told the news agency. Apple shares rose 1.8%.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 company of abusing its market power over independent delivery drivers, Davenport's office confirmed to. Amazon shares were down 1.9%.

$AAPL$AMZN$NVDA$PLTR
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

Palantir Technologies Sees Surging US Sales Momentum, UBS Says

Palantir Technologies (PLTR) is showing accelerating momentum in its US commercial business with no signs that rising competition is slowing the company's pace, UBS Securities said Monday in a report.Palantir's raised outlook points to durable growth rather than a near-term peak, with management signaling confidence in sustaining elevated demand, the report said.The CEO set a new "goal" for US revenue growth to double over the next 18 months, and "this optimism could serve to push out the peak growth timeline by a few quarters," UBS said.The latest results signal early traction in Palantir's "sovereign AI" strategy that could form a new bullish narrative, the report said.UBS boosted its price target on Palantir stock to $220 from $200 and maintained its buy rating.Price: $162.22, Change: $+36.57, Percent Change: +29.10%

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