Dow Futures nudged higher Tuesday morning, extending Monday’s gains as investors sift through another busy round of earnings.
Palantir grabbed early attention, jumping over 5% in premarket trade after topping Q2 expectations and lifting its full-year outlook. Strong demand for its AI tools continues to be a bright spot, and the upbeat results are giving tech bulls something to lean on.
All eyes now turn to a wave of high-profile earnings later today, with AMD, Pfizer, Snap, Rivian, and Disney all on deck. Their results, and more importantly, their guidance, could set the tone for where markets head next.
5 things to know before Wall Street opens
1. The market rebounded sharply in the previous session after a sell-off caused by weak July jobs data.
Investors are balancing optimism from solid corporate earnings against concerns about inflation and economic growth, which were heightened by disappointing employment figures.
2. On the global front, things are still tense. The Trump administration’s move to raise tariffs on countries like India, especially over Russian oil imports, is adding to trade worries.
The development has raised concerns over escalating trade frictions and potential disruptions to global supply chains, particularly within the energy and commodity sectors, adding a layer of uncertainty to the market outlook.
3. OPEC+ is set to raise oil output by 547,000 barrels per day starting in September, marking a fresh move to unwind earlier supply cuts.
The decision comes as the group looks to recapture market share against a backdrop of solid global demand and tight inventories.
The announcement has helped take some of the heat out of recent crude price spikes, which were driven by seasonal demand and supply concerns.
With more barrels coming online, energy stocks are back in focus as investors assess how added supply might ease inflation tied to fuel costs.
4. All eyes are on earnings from big tech and consumer names like Snap and Disney. Traders are hoping the numbers give a clearer picture of where consumer spending and ad revenues are headed, two areas that say a lot about how the economy’s really holding up.
If these names deliver, it could give the broader market a solid boost.
5. Heading into Tuesday’s session, the charts are flashing some optimism. All three major indexes, the Dow, S&P 500, and Nasdaq, have pushed back above their 50- and 200-day moving averages.
That’s the kind of move technical traders watch for as a sign of improving momentum. The Dow snapped a five-day losing streak with a 585-point gain, while the S&P added 1.5% and the Nasdaq led the way, up nearly 2%.
It’s a clear bounce from last week’s sell-off, and the strong buying near key support levels is keeping bullish sentiment alive.
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