Caterpillar & AMD Earnings in Focus 04/08/2026
Market Wrap
US stocks surged on Monday, with the Dow closing at a record high as renewed strength in megacap technology shares lifted the broader market.
Amazon (AMZN) topped $3 trillion in market value for the first time, while Nvidia (NVDA), Meta Platforms (META), Alphabet (GOOGL) and Microsoft (MSFT) also posted strong gains. Improving manufacturing and services data, alongside upbeat earnings commentary, helped restore confidence after the recent technology selloff.
Falling oil prices provided additional support. West Texas Intermediate crude dropped 5.1% to $80.34 a barrel after President Donald Trump stepped back from plans for further strikes on Iran.
The relief proved short-lived, however, as oil rebounded on Tuesday amid renewed concerns over supply disruptions. Brent crude rose 1.4% to $84.97 a barrel, even as Trump said talks with Tehran were continuing. Iran, meanwhile, said it had no plans for direct negotiations with Washington.
Attention now turns to another busy earnings session. Caterpillar (CAT) and McDonald’s (MCD) report before the opening bell, while Advanced Micro Devices (AMD) is scheduled after the close.
Investors will also monitor June factory orders and international trade data, with developments in the Middle East remaining a key market risk.
Palantir Delivers Blowout Quarter
Palantir (PLTR) surged about 12% in extended trading after delivering another record quarter, as accelerating demand for enterprise AI drove revenue and earnings well above Wall Street expectations.
Second-quarter revenue jumped 93% from a year earlier to $1.94 billion, while adjusted earnings reached 41 cents a share. Growth was led by the US commercial business, where revenue soared 149% to $764 million as companies increased spending on AI systems that allow them to retain control of their models and proprietary data.
Total contract value rose 49% to $3.37 billion, while adjusted free cash flow exceeded $1 billion for the first time. US revenue now accounts for more than 80% of Palantir’s business.
The company also raised its full-year revenue outlook by nearly $500 million to about $8.15 billion and issued third-quarter guidance comfortably above estimates.
Management said customers are increasingly moving beyond AI experimentation and focusing on measurable economic returns. Palantir argues that its software stands out by turning AI models into operational tools rather than simply generating more tokens, chats or computing usage.
Stocks on the Move
- On Semiconductor (ON): Shares rallied 5% after the chipmaker reported better-than-expected second-quarter earnings, revenue and margins. Adjusted earnings came in at 74 cents per share on revenue of $1.6 billion, both slightly above Wall Street forecasts.
- Snap (SNAP): Shares jumped 11% after second-quarter revenue topped estimates and key engagement metrics came in stronger than expected. Global daily active users and average revenue per user both exceeded forecasts, helping offset a quarterly loss of 10 cents per share.
- Whirlpool (WHR): Shares fell 3% after the appliance maker posted a wider-than-expected second-quarter loss and revenue missed estimates. The company also lowered its full-year earnings outlook, adding to concerns over weakening demand.
Watchlist: CAT, MRK, PLTR, ON, SNAP, XOM, MU, AMD, MCD, PFE
Key Economic Events Today
EST time
- 08:30 am: USD JOLTS Job Openings
- 08:30 am: USD Factory Orders
Earnings
BMO (Before Market Open): Caterpillar (CAT), Merck and Company (MRK), McDonald’s Corp (MCD), Pfizer (PFE)
AMC (After Market Close): Space Exploration Technologies (SPCX), Advanced Micro Devices (AMD), Arista Networks (ANET), Amgen Inc. (AMGN), Gilead (GILD)
