Stocks moved sharply higher Monday morning, recovering from a steep decline at the end of last week that was sparked by renewed concerns about tariffs and the health of the economy.
The Dow Jones Industrial Average (DJI) and S&P 500 (SPX) were recently up 1.1% and 1.2%, respectively, while the tech-heavy Nasdaq Composite (IXIC) jumped 1.5%. The major indexes tumbled on Friday after the July jobs report showed that the labor market was far weaker than previously known and President Donald Trump issued an executive order imposing higher tariffs on dozens of trade partners. The benchmark S&P 500 index, which just had its worst week since mid-May, entered this week on a four-day losing streak after closing at record highs for six consecutive sessions.
The calendar for economic data is light this week, but the schedule for earnings reports remains busy, highlighted by scheduled releases from McDonald’s (MCD), Disney (DIS), Eli Lilly (LLY), Novo Nordisk (NVO), Advanced Micro Devices (AMD), Uber Technologies (UBER) and Palantir Technologies (PLTR).
Shares of data analytics software provider and AI investor favorite Palantir, which is due to report after today’s closing bell, were up about 3% in recent trading. AMD shares were also up about 3% ahead of the chipmaker’s scheduled earnings release late tomorrow.
Mega-cap technology stocks were mostly higher this morning, led by a 3% gain for chips giant Broadcom (AVGO). Rival Nvidia (NVDA) rose 2%, as did Microsoft (MSFT), Apple (AAPL), Alphabet (GOOG) and Meta Platforms (META). Tesla (TSLA) inched higher, while Amazon (AMZN) dropped 1%, adding to a big decline on Friday. Amazon, Apple, Meta and Microsoft all released their quarterly results last week, with each of the tech giants topping Wall Street’s estimates.
The yield on the 10-year Treasury, which affects borrowing costs on all sorts of loans, notably mortgages, was at 4.24% this morning, up from 4.22% at Friday’s close. The yield finished last week at its lowest level in three months as market expectations for an interest rate cut by the Federal Reserve increased following the weak employment report.
The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, fell 0.4% to 98.77, losing ground for the second straight day.
Bitcoin was at $114,800, up from about $113,500 on Friday afternoon, when the digital currency hit its lowest level in three weeks
West Texas Intermediate futures, the U.S. crude oil benchmark, dropped 1.6% to $66.25 per barrel this morning, falling for the fourth straight session. Gold futures, which surged Friday as some investors turned to the traditional safe haven, were up another 1% at $3,430 an ounce.
What Analysts Think of Palantir Stock Ahead of Earnings
1 hr 14 min ago
Palantir Technologies (PLTR) is scheduled to report second-quarter results after the closing bell Monday, with analysts divided on one of 2025’s hottest stocks.
Shares of Palantir have more than doubled in price this year, leading the best-performing S&P 500 companies, as the company’s AI software has become a mainstay, particularly within U.S. government agencies.
However, Wall Street largely has been wary of the meteoric rise. The consensus price target among analysts tracked by Visible Alpha is just over $107—roughly 30% lower than Palantir’s Friday close above $154.
Just two out of 12 analysts have a “buy” or equivalent rating for Palantir stock, alongside seven “hold” ratings and three “sell” recommendations, according to Visible Alpha data. One such bull is Wedbush Securities, which last month lifted its Palantir price target to $160. To hear Wedbush analyst Dan Ives tell it, the Street has it wrong.
“We believe the Street is underestimating the $1 billion+ revenue stream that [Palantir’s Artificial Intelligence Platform] US commercial business can evolve into over the next few years and the technology competitive moat that [CEO Alex] Karp & Co. have built,” Wedbush said.
For the second quarter, analysts expect Palantir to report revenue of $939.6 million, up 39% year-over-year, and adjusted earnings per share of 14 cents, rising from 9 cents a year earlier.
Palantir shares were up about 3% in recent trading.
Amazon Levels to Watch After Post-Earnings Slide
2 hr 20 min ago
Amazon (AMZN) shares are in focus to start the week after plunging Friday as quarterly results from the e-commerce and cloud provider failed to impress investors.
While the company posted growth in its Amazon Web Services business, investors may have expected more after rivals Microsoft (MSFT) and Google parent Alphabet (GOOGL) recently reported strong results in their cloud units. The company’s AWS revenue grew 17.5% in its latest quarter, well below Microsoft’s Azure growth of 39% and trailing the 32% sales increase in Google Cloud Platform.2 Following the results, analysts at Jefferies said that AWS growth was “disappointing given big momentum at Azure and GPC.”
Amazon shares fell 8% to just close Friday’s session at just below $215, pushing the stock into negative territory for the year. Some analysts raised their price targets on Amazon following the earnings report, with those at JPMorgan analysts saying they “would buy the pullback.”
Since setting their early-April low, Amazon shares had trended higher within a rising wedge, a move that coincided with the 50-day moving average (MA) recently crossing above the 200-day MA to form a bullish golden cross.
However, the stock’s upward momentum ended abruptly Friday, with the price closing below the rising wedge pattern’s lower trendline, potentially laying the groundwork for further selling.
Investors should watch key support levels on Amazon’s chart around $199, $190 and $175, while also monitoring a major overhead area near $233.
The stock was up slightly at around $215.50 in recent trading.
Read the full technical analysis piece here.
Stock Index Futures Point to Higher Open
4 hr 1 min ago
Futures tied to the Dow Jones Industrial Average were up 0.5%.
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S&P 500 futures also gained 0.5%.
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Nasdaq 100 futures rose 0.7%.
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