Palantir Soars 27% and Caterpillar Helps Lift the Dow 800 Points

3 weeks ago 39

Anders Bylund, The Motley Fool

Tue, August 4, 2026 astatine 12:33 PM CDT 4 min read

Editor's note: An earlier mentation of this nonfiction said that SpaceX reported net already, frankincense moving the stock. The institution volition study aft Tuesday's closing bell. We regret the error.

Two days, 2 precise antithetic reasons to rally. Monday's gains came from plunging lipid prices. Tuesday's gains were inspired by companies simply reporting fantabulous results. That's a stronger instauration for sustained gains.

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All 3 large indexes climbed steadily from the opening doorbell with nary existent pullback. The Nasdaq Composite (NASDAQINDEX: ^IXIC) scale took the pb astatine 1.9% arsenic of 11:45 a.m. ET. The Dow Jones Industrial Average (DJINDICES: ^DJI) roseate 1.5%, worthy astir 800 Dow points, with 22 of its 30 members contributing affirmative moves. The S&P 500 (SNPINDEX: ^GSPC) landed successful the gap, adding 1.3%.

^IXIC information by YCharts

Earnings play delivers for Caterpillar and Palantir

Caterpillar (NYSE: CAT) is doing the heaviest lifting, which feels appropriate. The operation instrumentality shaper jumped 6% and generated astir 296 Dow points connected its own. The institution crushed expert estimates crossed the committee successful Q2 2026, driven by monolithic request for Caterpillar's powerfulness and vigor solutions. That division's income soared 29% twelvemonth implicit year, good up of the wide 17% gross increase.

Palantir Technologies (NASDAQ: PLTR) posted the day's eye-popping jump, rising 27.1% connected different analyst-stumping report. U.S. commercialized customers are adopting Palantir's AI level faster than expected. The banal usually hardly registers successful the cap-weighted marketplace indexes, but this summation was immense capable to acceptable the code for today's risk-on marketplace mood. Palantir was the second-largest contributor to the Nasdaq and S&P 500's greeting upticks.

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Semiconductor stocks are staging a wide betterment from July's sell-off. The iShares Semiconductor ETF (NASDAQ: SOXX) gained 6.3%, powered by a wide scope of double-digit oregon precocious single-digit jumps. For instance, Broadcom (NASDAQ: AVGO) gained 6% without company-specific catalysts. Broadcom's marketplace headdress is conscionable shy of $2 trillion arsenic of this writing, making it an index-driving powerhouse. Marvell Technology (NASDAQ: MRVL) is up 14% and Micron Technology (NASDAQ: MU) roseate 8%.

Oil prices are down importantly arsenic respective nations reported advancement successful the Iranian conflict's diplomatic talks. Gold is up by 0.8% arsenic immoderate investors question accepted low-risk alternatives adjacent connected a tech-friendly marketplace day. Speaking of tech, Space Exploration Technologies (NASDAQ: SPCX) volition people its archetypal quarterly study arsenic a nationalist institution tonight. The banal is up 4.5% contiguous connected bullish marketplace vibes and anticipation.

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