FX.co ★ US Futures Edge Higher on Earnings Momentum

On Tuesday, U.S. stock futures edged upward as investors assessed the latest batch of corporate earnings. In after-hours trading, Palantir saw a significant rise, climbing over 4% after surpassing second-quarter earnings expectations and increasing its forecast, driven by strong demand for its AI Platform. Conversely, Hims & Hers Health experienced a decline of about 13% after falling short of Q2 revenue projections. The focus now shifts to earnings reports from major companies anticipated on Tuesday, including AMD, Pfizer, Snap, Rivian, and Yum! Brands. On Monday, the Dow increased by 1.34%, the S&P 500 climbed by 1.47%, and the Nasdaq Composite surged by 1.95%, as Wall Street made a strong recovery from last week’s downturn. The rally was fueled by renewed optimism about a potential Federal Reserve rate cut in September, following a disappointing July jobs report and downward adjustments to prior months' figures.