Finance

Shares of Palantir Technologies soared roughly 15% in early trading following a blockbuster second-quarter earnings report that exceeded Wall Street estimates. The data analytics software firm also lifted its full-year guidance, reassuring investors about the strong commercial demand and returns on enterprise artificial intelligence infrastructure.

Global energy prices experienced a sharp drop, with West Texas Intermediate and Brent crude futures falling around 5% after military de-escalation developments between the United States and Iran. The decline in oil prices has successfully mitigated near-term inflation anxieties, helping to pull down U.S. Treasury yields and supporting growth sectors like technology.

Investors are closely watching the market as SpaceX prepares to release its first quarterly financial results since transitioning to a public company. The highly anticipated post-close announcement leads a jam-packed schedule of corporate reports today that includes other major players such as Advanced Micro Devices and McDonald's.