S&P 500 futures rise after benchmark snaps losing streak, Palantir pops on earnings: Live updates

U.S. stock futures posted modest gains Monday night, extending a robust Wall Street rebound that saw the S&P 500 climb 1.5% and the Nasdaq nearly 2%, recovering losses from Friday's market downturn attributed to new tariffs and a weak jobs report. Corporate earnings drove after-hours moves, with Palantir shares rising over 3% on exceeding $1 billion in revenue for the first time, while Hims & Hers Health dropped over 12% due to a Q2 revenue miss. Attention now shifts to Tuesday's slate of earnings reports, including Pfizer and AMD, and economic data on the trade deficit.

Analysis

U.S. equity markets are exhibiting renewed momentum, evidenced by a significant rebound that saw the S&P 500 gain approximately 1.5% and the tech-heavy Nasdaq Composite surge nearly 2%, effectively erasing the prior session's losses. This recovery follows a period of weakness driven by concerns over new tariffs and a disappointing jobs report, indicating heightened market sensitivity to macroeconomic catalysts. Corporate earnings are proving to be a key differentiator for individual equities in extended trading. For instance, Palantir (PLTR) shares climbed over 3% after the company reported revenue exceeding $1 billion for the first time, a significant fundamental milestone. Conversely, Hims & Hers Health (HIMS) shares plummeted more than 12% following a Q2 revenue miss, highlighting the market's intolerance for underperformance in the current environment. While the prevailing short-term trend is described as a 'powerful uptrend,' investors should anticipate increased volatility, or 'chop,' through August, with upcoming earnings from firms like Pfizer, AMD, and Rivian, alongside new trade deficit data, serving as critical near-term catalysts.

Key Decisions for Investors

• Recognize the strong technical rebound and market momentum, but prepare for increased volatility in August by monitoring key economic data such as the upcoming trade deficit report.
• Focus on stock-specific performance during this earnings season, as the divergent reactions of Palantir and Hims & Hers demonstrate that meeting or exceeding revenue and earnings expectations is critical for price performance.
• Consider overweighting positions in companies that demonstrate clear fundamental strength and milestone achievements, while exercising caution with names that fail to meet Wall Street's financial targets.