Nasdaq Futures set for a higher open following a robust start to February trading, with shares of Palantir Technologies driving tech shares upward. Meanwhile, gold and silver futures continued their upward trajectory. Futures for the Nasdaq 100 and S&P 500 indicated increases of 0.4% and 0.1%, respectively, whereas futures for the Dow Jones Industrial Average experienced a decline of 0.1%. Yesterday, major stock indexes concluded the day with significant gains as they embarked on a new month of trading. The blue-chip Dow Jones Industrial Average rose by 1.1%, equating to 515 points. Meanwhile, the benchmark S&P 500 narrowly missed achieving a new closing record with a 0.5% increase, and the tech-heavy Nasdaq saw an advancement of 0.6%.
Shares of Palantir Technologies surged over 10% in premarket trading following the company’s robust earnings report and optimistic revenue outlook released after the closing bell on Monday. In other post-earnings movements, shares of Teradyne surged 20%, while Archer-Daniels-Midland declined by 4%. Merck and Pfizer each decreased by 1%, and PepsiCo saw a slight dip of 0.7%. Shares of Advanced Micro Devices experienced a rise of 1.5% in anticipation of its results following the market close.
Gold and silver futures experienced a rebound on Tuesday as traders secured profits after a recent surge. Gold rose 6% to $4,925 an ounce, remaining significantly below its peak of over $5,625 reached last Thursday. Meanwhile, silver, which had sharply declined after exceeding $121.75 an ounce on the same day, surged 11% to $85.85. West Texas Intermediate crude futures, the U.S. benchmark, increased slightly to approximately $62.30 a barrel following a decline of 4.5% on Monday.
Bitcoin remained relatively stable at approximately $78,000, following a decline yesterday to about $74,500—marking its lowest point since last April. The U.S. dollar index, which monitors the value of the greenback against a selection of global currencies, stood unchanged at 97.64, staying close to four-year lows. The yield on the 10-year Treasury, which influences interest rates on various consumer loans such as mortgages, stood at 4.29%, an increase from Friday’s closing figure of approximately 4.28%.