Palantir shares surge 10% after beating estimates, while U.S. factory growth hits a four-year high in July.
U.S. corporate earnings season enters its second half with SpaceX set to report its first results under Elon Musk. Markets remain subdued after Monday’s equity rally and a 7% drop in oil prices, though Asian stocks hold steady and Wall Street futures edge higher.
Palantir Technologies jumped over 10% in extended trading after surpassing earnings estimates, driven by large government contracts. Meanwhile, U.S. manufacturing data showed factory activity expanding at its fastest pace in four years, despite elevated input costs.
Oil prices rebounded slightly on Tuesday following a sharp decline, as geopolitical uncertainty persists over potential U.S.-Iran talks. Tehran denied reports of scheduled negotiations, adding to market volatility.