Updated 1 min read
In This Article:
US stocks slipped on Tuesday as investors digested the latest wave of corporate earnings and various tariff updates.
The benchmark S&P 500 (^GSPC) slid 0.6%, while the blue-chip Dow Jones Industrial Average (^DJI) fell about 0.3%. The Nasdaq Composite (^IXIC) was down around 0.6%.
Palantir (PLTR) stock jumped about 5% in late morning trading after the company’s earnings report beat expectations and revealed its revenue had topped $1 billion in a quarter for the first time.
On Monday, stocks sharply rebounded after tanking on Friday in the aftermath of a number of market-shaking events, including a weak jobs report, fresh tariffs, new signs of rising prices, and President Trump’s firing of the commissioner of the Bureau of Labor Statistics.
Meanwhile, Trump continued to amp up pressure on trade Monday, threatening to hike tariffs on India. Separately, in a Tuesday morning interview with CNBC, Trump said pharmaceutical imports could see tariffs of up to 250%. Trump also ruled out Treasury Secretary Scott Bessent as a potential incoming Fed chair, but noted that Jerome Powell’s successor could be named “soon.”
Read more: The latest on Trump’s tariffs
Wall Street is now focused on the continuation of earnings season. On Tuesday, AMD (AMD) and Rivian (RIVN) are set to report their results. McDonald’s (MCD) and Disney (DIS) earnings land Wednesday. However, another trade blow looms later in the week, with Trump’s latest iteration of global tariffs set to take effect.
LIVE 12 updates
-
Countries push for last-minute deals as Thursday tariff deadline looms
Yahoo Finance’s Ben Wersckul reports:
-
Hims & Hers stock slides 6% after second quarter revenue misses forecasts
Yahoo Finance’s Jake Conley reports:
-
PMI data points to ‘encouragingly robust’ economic activity to start the third quarter
Activity in the services continued to expand during the month of July, according to two data releases on Tuesday morning.
The Institute for Supply Management’s (ISM) services PMI registered a reading of 50.1 in July, down from June’s reading of 50.8, and below the 51.5 economists surveyed by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate contraction. The manufacturing sector has been in contraction for most of the past two years.
“July’s PMI level continues to reflect slow growth, and survey respondents indicated that seasonal and weather factors had negative impacts on business,” Steve Miller, the chair of the Institute for Supply Management Services Business Survey committee, said in the release. “The most common topic among survey panelists remained tariff-related impacts, with a noticeable increase in commodities listed as up in price.”
Elsewhere on Tuesday, S&P Global’s composite PMI, which combines both activity in the services and manufacturing sectors, registered a reading of 55.1 in July, up from 52.9 the month prior.
S&P Global chief business economist Chris Williamson said the data signals “encouragingly robust economic growth at the start of the third quarter.” Williamson added that the July PMI data points to the US economy growing at a 2.5% annualized pace in the third quarter, above the 1.25% pace seen in the first half.
-
Trump rules out Bessent as next Fed chair, says may name Powell replacement soon
Yahoo Finance’s Jennifer Schonberger and Myles Udland report:
-
Trending tickers in premarket trading: Pfizer, Palantir, Caterpillar
Companies reporting earnings topped Yahoo Finance’s trending tickers list on Tuesday. Here’s a look at how they’re trading 30 minutes before the opening bell:
-
Palantir stock surges on Q2 beat and raise
Palantir (PLTR) stock climbed 7% higher in premarket trading on Tuesday following the AI software company’s blowout second quarter earnings report on Monday afternoon.
Palantir’s revenue topped $1 billion in a quarter for the first time as the company dodged government contract spending cuts and reported beat-and-raise results.
Year to date, Palantir stock is up 112%.
Yahoo Finance’s Jake Conley reports:
-
Wall Street 2025 bonuses: Winners and losers so far
Yahoo Finance’s David Hollerith reports:
-
Good morning. Here’s what’s happening today.
Economic data: S&P Global US Services PMI (July final) S&P Global US Composite, (July final); ISM services index (July)
Earnings: AMD (AMD), BP (BP), Caterpillar (CAT), Duke Energy (DUK), Lucid Group (LCID), Opendoor (OPEN), Pfizer (PFE), Rivian (RIVN), Super Micro Computer (SMCI), Snap (SNAP), Upstart (UPST)
Here are some of the biggest stories you may have missed overnight and early this morning:
One key reason a slowing economy isn’t shaking stock market bulls
Wall Street 2025 bonuses: Winners and losers so far
Big Tech is power-hungry, and America’s aging grid can’t keep up
Pfizer beats in Q2 earnings, reaffirms 2025 outlook
Trump’s Fed pick could face resistance from colleagues on rates
Intel struggles with key manufacturing process for next chip
EU says it expects turbulence in trade relations with US
Jefferies sees crowded trade in Big Tech as Fed nears rate cuts
-
Pfizer stock rises after beating Q2 earnings, reaffirming 2025 outlook
Pfizer (PFE) stock rose 2% in premarket trading Tuesday after beating quarterly estimates on the top and bottom lines.
The company posted earnings per share of $0.78, versus estimates of $0.58 per share, on revenue of $14.7 billion, compared to Wall Street expectations of $13.5 billion.
Yahoo Finance’s Anjalee Khemlani reports:
-
One key reason a slowing economy isn’t shaking stock market bulls
Yahoo finance’s senior reporter Josh Schafer looks at why softening economic data may not be as important for stocks as AI:
-
Oil flattened from multi-day drop after Trump’s India rebuke
Oil prices steadied from a three-day decline following a ramping up of threats from Trump to India over the Asian nation’s continued use of Russian crude.
Bloomberg reports:
![i’m-nervous,-too!-[part-2]](https://10xwealthreport.com/wp-content/uploads/2026/03/177042-im-nervous-too-part-2-1568x784.jpg)
