Markets were on course to open in the green as stocks continued to rally following positive economic data and blowout earnings from Palantir that eased fears around the artificial intelligence trade.
Dow futures were up 36 points, or 0.1%, in premarket trading Tuesday. Those tied to the S&P 500 were rising 0.3% after just missing a record close in the previous session, while Nasdaq 100 futures were rising 0.5% in premarket trading. All three indexes finished in the green on Monday.
Palantir’s earnings gave a vote of confidence to the AI trade that has become the main market driver. The company helps large organizations sort through their mountains of data and make sense of it using AI. Revenue for the quarter reached $1.41 billion, up 70% year-over-year, while sales in its core U.S. market were up 93% from a year ago.
