U.S. Indexes Advanced Towards Record Highs as Earnings Roll In

Barry Adams
04 Aug, 2026
New York City

Stocks in New York extended their 2-day gains as improving global risk sentiment and upbeat corporate earnings outweighed a rebound in oil prices. 

The S&P 500 Index increased 0.2%, and the Nasdaq Composite advanced 0.4% as investors favored AI- and semiconductor-linked stocks. 

Market sentiment remained positive as leading tech companies signaled their commitment to continue to invest in artificial intelligence infrastructure. 

Nvidia, AMD, Intel, SanDisk, Micron Technology, and Applied Materials advanced between 5% and 10% over the two trading sessions and extended their gains in Tuesday's trading. 

After the close of the regular trading session, AMD, McDonald's, Caterpillar, and SpaceX are scheduled to report their quarterly results. 

In Monday's trading, the S&P 500 Index advanced 1.3%, and the tech-focused Nasdaq Composite gained 2.1%. supporting the higher openings in Asia on Tuesday. 

However, benchmark indexes in Japan struggled to advance amid worries that the stronger yen could weaken earnings growth for export-driven companies.   Indexes in China closed mixed as investors focused on the weakening macroeconomic backdrop, despite resilient exports and an improving outlook for leading AI-related and semiconductor-related stocks. 

In Europe, the DAX index increased 0.4% in Frankfurt, the CAC-40 index fell 0.02%, and the FTSE 100 index inched higher by 0.35%. 

 

U.S. Movers 

Palantir Technologies soared 17% to $147.16 after the AI and data analytics company reported a 93% rise in revenue from a year ago in its latest quarter. 

Deutsche Lufthansa AG decreased 10.8% to €8.22 after the German state-controlled airline reported a 56% drop in core profit in the second quarter because of a labor strike and a sharp jump in jet fuel costs. 

Lufthansa said revenue rose 8% to €11.1 billion, and adjusted operating earnings dropped to €383 billion from €870 million a year ago.  

Caterpillar Inc. rose 7.6% to $893.70 after the construction and power equipment maker reported better-than-expected second quarter results, driven by power generation demand and data center spending. 

Revenue increased 24% to $20.5 billion from $16.6 billion, net income advanced to $3.6 billion from $2.2 billion, and diluted earnings per share rose to $7.77 from $4.62 a year ago. 

Power generation revenue soared 29% to $3.1 billion from $2.4 billion, oil & gas sales increased 9% to $2.1 billion from $1.9 billion, and industrial sales advanced 9% to $1.7 billion from $1.5 billion a year ago. 

Overall construction division sales soared 35% to $8.3 billion from $6.2 billion, and resource industries sales increased 20% to $4.6 billion from $3.9 billion a year ago.