After ending the previous session mostly higher, stocks are likely to see further upside in early trading on Tuesday. The major index futures are currently pointing to a higher open for the markets, with the S&P 500 futures up by 0.2 percent.
A sharp increase by shares of Palantir Technologies (PLTR) may contribute to early strength on Wall Street, as the AI-powered software provider is spiking by 11.7 percent in pre-market trading.
The surge by Palantir comes after the company reported better than expected fourth quarter results and provided upbeat guidance.
Mining stocks are also likely to see initial strength as the prices of gold and silver skyrocket following a recent nosedive.
However, buying interest may be somewhat subdued as traders keep an eye on developments in Washington, where the House is set to vote on a funding bill to end a partial government shutdown.
As a result of the shutdown, the Labor Department has delayed the release of this morning’s report on job openings as well as the more closely watched monthly jobs report originally due to be released on Friday.
Following the mixed performance seen last week, stocks moved mostly higher during trading on Monday. The major averages all moved to the upside on the day, with the Dow posting a standout gain.
The major averages pulled back off their best levels late in the day but remained in positive territory. The Dow jumped 515.19 points or 1.1 percent to 49,407.66, the Nasdaq climbed 130.29 points or 0.6 percent to 23,592.11 and the S&P 500 rose 37.41 points or 0.5 percent to 6,976.44.
In overseas trading, stock markets across the Asia-Pacific region moved notably higher during trading on Tuesday. Japan’s Nikkei 225 Index soared by 3.9 percent, while China’s Shanghai Composite Index surged by 1.3 percent.
Meanwhile, the major European markets are turning in a mixed performance on the day. While the German DAX Index is up by 0.3 percent, the French CAC 40 Index is down by 0.2 percent and the U.K.’s FTSE 100 Index is down by 0.7 percent.
In commodities trading, crude oil futures are climbing $0.36 to $62.50 a barrel after plummeting $3.07 to $62.14 a barrel on Monday. Meanwhile, after tumbling $92.50 to $4,652.60 an ounce in the previous session, gold futures are soaring $308.60 to $4,961.20 an ounce.
On the currency front, the U.S. dollar is trading at 155.83 yen compared to the 155.60 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is trading at $1.1798 compared to yesterday’s $1.1789.
Business News
U.S. Stocks May See Further Upside As Palantir Surges
2026-02-03 13:56:47
