Barclays says corporate earnings are clearing a much higher bar than usual, with 85% of S&P 500 companies beating Q2 profit estimates versus a long-term average of 76%. Revenue is up 11.2% from a year ago, while EPS has jumped 25.1%, powered largely by Big Tech.
Barclays notes that both beats and misses are seeing negative stock moves on average, a rare setup that suggests investors came into earnings season with plenty of optimism already priced in.
The S&P 500 is up over 1% on the day, boosting the broader market to its latest intraday record high. Bullish sentiment has spilled over to the other indices, with the Nasdaq Composite now up 1.6% on the day, boosted largely by Palantir’s quarterly results. The Dow Jones Industrial Average is being lifted by Caterpillar’s quarterly print.
ING analysts have warned Bitcoin’s bounce has not broken the longer-term downtrend. The bank sees heavy resistance between $65,670 and $69,900 and warns that a drop below $54,450 would trigger another long-term sell signal, putting the bears back in control.
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Stocks pointed higher today as strong earnings, lower oil, and fresh hopes for a U.S.-Iran deal gave bulls another opening. Nasdaq-100 futures rose 1.1% as Palantir Technologies (Nasdaq: PLTR) surged more than 15% on what CEO Alex Karp called an “otherworldly” quarter. Dow futures jumped 642 points, or 1.2%, helped by a double-digit premarket rally in Caterpillar (NYSE: CAT) after its earnings beat. S&P 500 futures gained 0.4%.
The macro backdrop also turned more supportive. Treasury Secretary Scott Bessent said the U.S. is in talks with Iran and suggested a deal to reopen the Strait of Hormuz could come as soon as today or tomorrow. Oil prices fell on the comments, with WTI down 3% near $77 per barrel and Brent crude slipping 2% to roughly $81. That helped ease one of the market’s biggest inflation pressure points.
Here’s a look at where things stand as of pre-morning trading:
Dow Jones Industrial Average: 53,971 Up 1.2%
Nasdaq 100 Futures: 29,227 Up 1.17%
S&P Futures: 7,654 Up 0.34%
Jeff Bezos filed a plan to sell up to 15 million Amazon (Nasdaq: AMZN) shares worth roughly $4.07 billion. The shares trace back to 1990s founder stock, making the filing less about a recent trade and more about another large liquidity event from one of the company’s original ownership stakes. The timing lands after a strong run for the stock, with Amazon up 23% year to date and 68.7% over the past five years.
Dow stock Caterpillar (NYSE: CAT) surged about 12% premarket after crushing Q2 expectations, with EPS of $8.17 and revenue of $20.50 billion both well ahead of estimates. A $72.1 billion backlog and mid-to-high-teens FY sales growth outlook gave the stock a strong industrial read-through, even as adjusted margin guidance sits near the low end of the annual target range excluding tariff recoveries.
Palantir Technologies (Nasdaq: PLTR) jumped about 15% premarket after what CEO Alex Karp called an “otherworldly” quarter. Revenue rose 93% to $1.94 billion, commercial sales surged 149%, and government revenue climbed 90%, giving investors a clean read on demand for Palantir’s AI and sovereign-tech tools.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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