Palantir Weighs On Wall Street, Bitcoin Slumps 5%: What's Moving Markets Tuesday?

Risk appetite cooled on Tuesday as investors interpreted the latest batch of corporate earnings as solid but not spectacular, offering a convenient excuse to take profits after strong year-to-date rallies.

Palantir Technologies Inc. (NASDAQ:PLTR), one of the poster children of this year's AI-fueled rally, slumped more than 7% despite easily beating Wall Street estimates and raising its full-year guidance. Analysts indicated that the stock's 170% surge in 2025 has prompted some sell-the-news behavior.

The Nasdaq 100 tumbled 1.6% to 25,570 by midday in New York, while the S&P 500 fell 1%. The less tech-heavy Dow Jones Industrial Average fared slightly better but still lost 0.7%.

Uber Technologies Inc. (NYSE:UBER) was another major drag on Wall Street, falling 6.5% after its latest earnings release disappointed investors.

In currency markets, the U.S. dollar extended its advance, with the DXY index breaking above 100 for the first time since late May, reflecting a broader shift toward risk aversion.

The stronger greenback weighed on commodities: gold slipped 0.9% to around $3,960 an ounce, while silver dropped 1.5% to $47.

The selloff deepened in crypto markets for a second straight day. Bitcoin (CRYPTO: BTC) sank over 5% to $101,000, touching its lowest level since mid-June. Ethereum (CRYPTO: ETH) fell another 5.7% after a 7.8% decline on Monday, and Solana (CRYPTO: SOL) slid 5.8% following a 10% plunge in the previous session.

Tuesday’s Performance In Major US Indices, ETFs

According to Benzinga Pro data:

• The Vanguard S&P 500 ETF (NYSE:VOO) fell 0.9% to $622.48.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) inched 0.5% down to $471.15.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) dropped 1.5% to $622.60.
• The iShares Russell 2000 ETF (NYSE:IWM) fell 1% to $242.89.
• The Health Care Select Sector SPDR Fund (NYSE:XLV) outperformed, up 0.4%; the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, down 2%.

Tuesday’s Stock Movers On Earnings Reports

• Palantir Technologies Inc. down 6.7%
• Eaton Corporation plc (NYSE:ETN) down 2.7%
• Pfizer Inc. (NYSE:PFE) up 0.3%
• Spotify Technology S.A. (NYSE:SPOT) down 3.3%
• Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) up 0.7%
• Apollo Global Management Inc. (NYSE:APO) up 7.3%
• Marriott International Inc. (NASDAQ:MAR) up 2.7%
• The Williams Companies Inc. (NYSE:WMB) down 2.2%
• Simon Property Group Inc. (NYSE:SPG) up 3.1%
• Realty Income Corp. (NYSE:O) down 3.3%
• Exelon Corp. (NASDAQ:EXC) down 0.5%
• Diamondback Energy Inc. (NASDAQ:FANG) down 2.3%
• Martin Marietta Materials Inc. (NYSE:MLM) up 1.3%
• Archer-Daniels-Midland Co. (NYSE:ADM) up 2.1%
• Leidos Holdings Inc. (NYSE:LDOS) up 5.9%
• SBA Communications Corp. (NASDAQ:SBAC) up 1.6%
• Coterra Energy Inc. (NYSE:CTRA) up 3.8%
• Global Payments Inc. (NYSE:GPN) up 2.6%
• CDW Corp. (NASDAQ:CDW) down 6.4%
• BWX Technologies Inc. (NYSE:BWXT) down 6.0%
• Gartner Inc. (NYSE:IT) down 8.5%
• Hologic Inc. (NASDAQ:HOLX) up 0.2%
• Exact Sciences Corp. (NASDAQ:EXAS) up 5.7%
• The Clorox Company (NYSE:CLX) up 0.3%
• Unum Group (NYSE:UNM) up 6.8%
• Ball Corp. (NYSE:BALL) up 1.1%
• TopBuild Corp. (NYSE:BLD) down 0.8%
• Stanley Black & Decker Inc. (NYSE:SWK) down 1.0%
• Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) down 14.5%

Stocks slated to report earnings after the close include Advanced Micro Devices Inc. (NASDAQ:AMD), Arista Networks Inc. (NYSE:ANET), Amgen Inc. (NASDAQ:AMGN), Axon Enterprise Inc. (NASDAQ:AXON), Aflac Inc. (NYSE:AFL), American International Group Inc. (NYSE:AIG), Corteva Inc. (NYSE:CTVA), Coupang Inc. (NYSE:CPNG), Eversource Energy (NYSE:ES), Super Micro Computer Inc. (NASDAQ:SMCI), Live Nation Entertainment Inc. (NYSE:LYV), Astera Labs Inc. (NASDAQ:ALAB), Pinterest Inc. (NYSE:PINS), International Flavors & Fragrances Inc. (NYSE:IFF), Toast Inc. (NYSE:TOST), Equitable Holdings Inc. (NYSE:EQH), and Lumentum Holdings Inc. (NASDAQ:LITE).

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