Dow Jones Futures Ascend Despite Disney’s Sales Slump; Palantir’s Earnings Cause Sharp Decline
- Dow Jones futures and other major stock indexes threatened to end their rallies in morning action Tuesday, as Walt Disney (DIS) dived on a quarterly revenue miss.
- Artificial intelligence play Palantir Technologies (PLTR) plunged on first-quarter earnings results on the stock market today.
- Early Tuesday, the 10-year Treasury yield ticked lower to 4.47%. Further, oil prices fell as West Texas Intermediate futures traded around $78.30 a barrel.
Major stock indexes face a potential halt in their rallies as Disney and Palantir Technologies report disappointing earnings, while the 10-year Treasury yield and oil prices fall.
Stock Market Today: Disney, Palantir Earnings
Late Monday, entertainment behemoth Disney reported mixed fiscal second-quarter results. Disney topped earnings estimates as its streaming services nearly broke even, but the company missed sales targets. Shares plunged nearly 5% in early trade. Meanwhile, Palantir reported in-line quarterly earnings and higher sales numbers than expected. But shares plunged more than 11% in premarket trade. Shares of the AI leader had surged 8.1% Monday to retake their 50-day moving average.
Dow Jones Rises
On Monday, the Dow Jones Industrial Average moved up 0.5% and the S&P 500 climbed 1%. The tech-heavy Nasdaq composite gained 1.2%. Monday’s The Big Picture column commented, “Indeed, indexes had a few chances to mark a follow-through rally confirmation but came up short due to lower volume from the previous session. Still, we can’t get too down on the stock market, which is why IBD has been increasing its recommended stock market exposure.”
Stock Market Today: Best Stocks To Watch
Chipotle Mexican Grill (CMG), NXP Semiconductor (NXPI), Texas Roadhouse (TXRH) and Tradeweb Markets (TW) — plus Dow Jones components American Express (AXP) and Merck (MRK) — are among the best companies to watch on the stock market tod... Read the full article for FREE at COINOTAG!
