US Stocks Rally to Start August; Palantir Beats Expectations After Close
Key Takeaways
- •All major US indices posted gains ranging from 1.32% to 2.13%, with the Nasdaq Composite leading at 2.13% and the Dow trailing at 1.32%.
- •CrowdStrike was the top individual gainer at 19.49%, headlining a diversified rally that included software, semiconductor, aerospace, and transportation stocks.
- •Palantir reported adjusted earnings of $0.41 per share, surpassing the consensus estimate of $0.34 per share.
- •Palantir's quarterly revenue reached $1.94 billion, exceeding Wall Street expectations of $1.81 billion.
- •Palantir raised both its third-quarter and full-year 2026 revenue and adjusted operating income guidance above analyst consensus estimates.
US equities began the month of August on a strong note, with major indices posting gains ranging from 1.32% to 2.13%. The S&P 500, Nasdaq, and Dow each extended their winning streaks to three consecutive sessions, highlighting broad risk appetite across large caps and small caps as the new month got underway.
Major Index Performance
- NASDAQ Composite (IXIC): +2.13%
- NASDAQ 100 (NDX): +1.78%
- Russell 2000 (RUT): +1.73%
- S&P 500 (SPX): +1.48%
- Dow Jones Industrial Average (DJI): +1.32%
Notable Individual Stock Gainers
- CrowdStrike (CRWD) — +19.49%
- Nebius NV (NBIS) — +11.64%
- SoFi Technologies (SOFI) — +10.55%
- First Solar (FSLR) — +10.28%
- Coherent (COHR) — +9.60%
- Lumentum (LITE) — +9.24%
- Oracle (ORCL) — +9.23%
- Vertiv Holdings (VRT) — +8.92%
- Boeing (BA) — +8.01%
- Defiance Drone & Modern Warfare ETF (JEDI) — +6.71%
- Intuitive Surgical (ISRG) — +6.25%
- Corning (GLW) — +6.16%
- Broadcom (AVGO) — +6.08%
- SanDisk (SNDK) — +6.07%
- Meta Platforms (META) — +6.01%
- Dell Technologies (DELL) — +5.89%
- Alaska Air (ALK) — +5.84%
- United Airlines (UAL) — +5.82%
- Eaton (ETN) — +5.53%
- Credo Technology (CRDO) — +5.49%
- American Airlines (AAL) — +5.11%
The list of gainers was led by a mix of software, semiconductor, aerospace, and transport names, underscoring how the day’s move reached beyond a single sector. Several of the largest advances were in companies tied to artificial intelligence, cloud infrastructure, and enterprise technology, while airlines and industrials also participated in the broader advance.
Palantir Tops Estimates After the Close
Following the closing bell, Palantir reported results that surpassed expectations on both revenue and earnings, accompanied by a raised outlook.
- Adjusted EPS: $0.41 vs. $0.34 expected
- Revenue: $1.94 billion vs. $1.81 billion expected
The company also issued guidance above consensus estimates:
- Q3 Adjusted Operating Income: $1.292–$1.296 billion vs. $1.16 billion expected
- Q3 Revenue: $2.16–$2.164 billion vs. $2.00 billion expected
- FY 2026 Adjusted Operating Income: $4.889–$4.897 billion vs. $4.54 billion expected
- FY 2026 Revenue: $8.15–$8.158 billion vs. $7.73 billion expected
Palantir exceeded Wall Street expectations across earnings, revenue, third-quarter guidance, and full-year guidance. The report also matters because it arrives after a broad market rally in names linked to software and AI infrastructure, giving investors another high-profile read on demand in that part of the market as earnings season continues.