S&P 500 Rebounds, Palantir Shares Up 6%
Major indices reversed two days of heavy losses - compounded by pressure in both precious metals and crypto space - with a session of strong gains on Monday, led by Consumer Staples and Industrials. The opening hour of the evening session also suggests the risk-on rebound may be durable. S&P e-minis are up 0.2%, Nasdaq 100 contract is up 0.4%, and Dow Industrials are trading flat. Earnings calendar rolling through the Tech sector on Monday still supports the AI bull case - Palantirwas up 6% afterhours after generating its best annualized growth rate on record at a whopping 7o%. Performance by reporting Semis was more mixed however, with post-earnings strength in Teradyneand a sell-off in NXP Semiconductors.In commodities, the rally in WTI Crude Oil taking the contract above $66 last week has been scaled back on Monday, pressuring the overall Energy sector to be the worst performer on the S&P 500. In evening trade, WTI is below $62 per barrel ahead of tomorrow's API inventory data. Precious metals - which saw the spec-driven bubble deflate sharply on Friday is seeing some recovery however - gold is back above $4,800 after falling below $4,500 on Monday and Silver is approaching $83 per ounce after falling to low $70s earlier in the day.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Teradyneup 23.0%Woodwardup 15.8%DaVita Inc.up 14.8%Palantirup 5.8%ALSO HIGHER -TeraWulfup 11.8% after announcing acquisition of two brownfield infrastructure sitesAESup 7.7% after takeover interest report from BloombergDOWN AFTER EARNINGS -Rambusdown 15.8%Kforcedown 10.9%Fabrinetdown 8.1%NXP Semiconductors N.V.down 5.6%ALSO LOWER -Acadia Pharmaceuticalsdown 6.1% after negative CHMP trend vote in Rett Syndrome
