Key Takeaways
- Palantir Technologies (PLTR) shares surged 15.2% in pre-market trading after the company reported a 93% year-over-year revenue increase and raised its full-year guidance, fueled by "otherworldly" demand for AI.
- Caterpillar (CAT) stock jumped 11.4% as the industrial giant surpassed $20 billion in quarterly sales for the first time, benefiting from AI data center construction and strong power-generation equipment demand.
- Amazon (AMZN) founder Jeff Bezos disclosed plans to sell up to 15 million shares (valued at approximately $4.07 billion), causing the stock to slip 2.4% despite recently hitting a $3 trillion market cap.
- The U.S. Trade Deficit narrowed to $73.3 billion in June as imports fell more sharply than exports, while Canada reported a wider-than-expected merchandise trade surplus of C$3.86 billion.
- Spot Silver prices rallied 3% to reach $59.90 per ounce, rebounding amid geopolitical developments and cautious optimism regarding Middle East peace negotiations.
Palantir and Caterpillar Lead Earnings Winners
Palantir Technologies (PLTR) dominated pre-market headlines with a massive earnings beat, reporting quarterly revenue of $1.94 billion. The company aggressively raised its 2026 revenue forecast to a range of $8.15 billion to $8.16 billion, citing a surge in U.S. commercial demand for its Artificial Intelligence Platform (AIP). The results underscore Palantir's successful pivot toward private-sector AI applications, which saw 149% growth this quarter.
Caterpillar (CAT) also delivered a historic performance, with shares rising 11.4% after reporting adjusted profit per share of $8.17. CEO Joe Creed highlighted that the company achieved record quarterly sales of $20.5 billion, driven by a massive backlog and momentum in power-generation segments essential for the global AI infrastructure buildout.
Tech Volatility: Amazon and Snap in Focus
Amazon (AMZN) shares faced pressure, dropping 2.4% following a regulatory filing that revealed founder Jeff Bezos intends to sell 15 million shares. While the sale is part of a pre-arranged Rule 10b5-1 trading plan adopted in late 2025, the news acted as a "buzzkill" for the stock's recent rally above the $3 trillion valuation mark.
In the social media space, Snap Inc. (SNAP) gained 5.7% after reporting $1.599 billion in revenue, a 19% increase year-over-year. The company saw a significant jump in adjusted EBITDA to $250 million, though analysts remain cautious regarding a slight decline in daily active users within the high-value North American market.
Mixed Results for Semi and Streaming
ON Semiconductor (ON) rose 6.0% after beating top and bottom-line estimates with $1.60 billion in revenue. The company’s AI data center business is now expected to more than double in 2026, helping offset broader softness in the electric vehicle sector.
Conversely, Spotify (SPOT) shares fell 5.6% after the streaming giant issued a cautious Q3 Monthly Active User (MAU) outlook. Despite reporting record gross margins and beating operating income estimates for the second quarter, investors focused on slowing user growth in mature markets like Europe and North America.
Economic Indicators and Commodities
The U.S. Trade Balance for June showed a deficit of $73.3 billion, a slight improvement from the revised $77.6 billion in May. Both imports and exports saw monthly declines of 1.8% and 0.9% respectively, reflecting a cooling in global trade volumes. Meanwhile, Canada’s trade surplus widened to C$3.86 billion, significantly beating the C$3.00 billion consensus estimate.
In commodities, Spot Silver surged 3% to $59.90/oz. The move represents a sharp recovery from recent lows, supported by technical buying at the $57.00 support level and shifting risk sentiment as investors monitor diplomatic efforts in the Middle East.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.