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GOOD MORNING
Palantir just posted 93% revenue growth and the stock ripped 17% higher.
That's not a beat. That's a statement.
The AI trade took a beating in July. Monday, it came roaring back — the Nasdaq closed up over 2%, the S&P hit a fresh high, and Wall Street decided the AI infrastructure spend is still paying off.
Today, six more companies get to prove it wasn't a one-day fluke.
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Futures Snapshot
S&P 500 | 7,637.75 | +0.12% |
Nasdaq | 29,077.50 | +0.64% |
Dow Jones | 53,390 | +0.10% |
Bitcoin | $63,498.60 | +1.19% |
Ethereum | $1,856.16 | +0.04% |
Gold | $4,106 | +0.38% |
Oil (Brent) | $82.20 | +2.32% |
VIX | 15.71 | -0.95% |
What's moving the market: Oil is sliding on hopes that U.S.-Iran talks (set to resume after Trump pulled back a planned strike) cool tensions in the Middle East. Cheaper oil means less inflation pressure, which is why yields eased off recent highs and risk assets are catching a bid.
Add in Monday's blowout earnings from Palantir and Snap, and futures are pointing higher into a packed data-and-earnings day.
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THE BIG STORY
SpaceX Reports Earnings for the First Time. Ever
SpaceX goes public with its numbers today — the first quarterly report since its June IPO.
Why it matters: The stock has fallen nearly 30% from its $150 debut price, and a $99 billion share-supply unlock is looming, which could flood the market with new shares.
Analysts remain broadly bullish on the long-term thesis (Starship progress, government and sovereign AI deals), but this report is the first real chance for the market to judge SpaceX as a public company instead of a hype machine.
The setup: Expect the stock to swing hard in either direction. A weak print plus unlock jitters could get ugly fast. A strong one could reset the narrative entirely.
BREAKING NEWS
AMD Reports After the Bell — And It's a Referendum on AI Chips
AMD posts results tonight, right behind SpaceX.
Why it matters: This is arguably the most important semiconductor print of the week. After Palantir and Snap reinforced the AI-spending story, traders want confirmation that chip demand is holding up — not just at Nvidia, but across the ecosystem.
A strong AMD print extends the "AI trade is back" narrative into Wednesday. A weak one reopens the July selloff playbook.
EARNINGS PREVIEW
Earnings (Pre-Market)
Caterpillar (CAT) — industrial demand read
McDonald's (MCD) — consumer spending health
BP
HSBC
Spotify (SPOT)
Duke Energy (DUK)
Merck (MRK) / Pfizer (PFE)
Earnings (After Close)
AMD
SpaceX (SPCX)
Lucid (LCID)
Watch guidance more than the headline beat. Wall Street has moved past "did they beat" and into "what do they see coming."
ECONOMIC CALENDAR
8:30 AM ET — Trade Balance (June)
10:00 AM ET — JOLTS Job Openings (June)
10:00 AM ET — Factory Orders (June)
10:00 AM ET — Durable Goods Orders (June)
Biggest volatility window: 8:30–10:00am, especially if trade data surprises ahead of Friday's jobs report.
TRENDING TICKERS
Palantir (PLTR) — Up sharply premarket after revenue grew 93% year-over-year.
SpaceX (SPCX) — First-ever public earnings report, with a massive share unlock in the background.
Alibaba (BABA) — Up on the reveal of a new AI model, Qwen3.8-Max, launching next week.
MOVERS & SHAKERS
Gainers
Palantir — blowout earnings beat
Alibaba — new AI model announcement
Snap — ad revenue strength tied to World Cup spending
Losers
Sportradar — quarterly miss on both lines
Genprex — down despite a new biomarker partnership
Kosmos Energy — production fell 14% year-over-year, overshadowing an earnings beat
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As AI's demand for electricity explodes, Nvidia is making moves in a surprising new area.
The company recently partnered with Los Alamos National Laboratory and backed a project tied to the technology known as the "Energy Cube."
One tiny stock sits at the center and a major government catalyst arriving in August could bring it into the spotlight.
SECTORS TO WATCH
Semiconductors — AMD earnings tonight
Aerospace/Space — SpaceX's public debut as a reporting company
Industrials — Caterpillar sets the tone on global demand
Consumer — McDonald's read on spending resilience
Energy — oil sliding on Iran de-escalation hopes
SMART INSIGHT
Hedge funds added to tech exposure through July's selloff while retail sold the dip.
Monday's rally is the first sign that positioning is paying off. If AMD and SpaceX both deliver tonight, expect the squeeze to keep going into Wednesday.
30-SECOND EDGE
If oil keeps sliding on Iran headlines, yields stay capped — and that's rocket fuel for growth stocks heading into Friday's jobs report.
OPENING BELL HOT TAKES
Polymarket traders are pricing a 77% chance the S&P opens higher today, betting Monday's rally has more room to run. Benzinga
Amazon crossed a $3 trillion market cap for the first time as tech names keep climbing off last week's earnings. CNBC
Traders are also watching JOLTS data and the trade balance as the macro backdrop to tonight's SpaceX and AMD reports. Stocktwits
SpaceX's stock has fallen nearly 30% since its debut, and investors want a catalyst tonight to turn sentiment around. Yahoo Finance
HSBC and BP round out today's slate, giving traders a read on both global banking and energy demand. FX Leaders
That’s all for the day. Go in crush the markets today!
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