Finance

Palantir Technologies saw its shares jump following an exceptional quarter that demonstrated robust demand for artificial intelligence software. Simultaneously, Caterpillar experienced a double-digit stock increase after upgrading its annual revenue outlook, benefiting from the rapid construction of AI data centers.

Crude oil futures moved lower after Treasury Secretary Scott Bessent signaled that a diplomatic breakthrough to reopen the critical Strait of Hormuz could be imminent. The potential resolution of geopolitical friction in the Middle East has helped lower energy prices and provided reassurance to global financial markets.

Investors are closely watching for SpaceX's first quarterly report since its historic initial public offering. Wall Street anticipates substantial year-over-year revenue expansion from the company, though the upcoming announcement will also mark the expiration of its initial shareholder lockup period.