Dow Jones futures were little changed ahead of Tuesday’s open after the Dow Jones Industrial Average surged more than 400 points Monday. Apple (AAPL) and Tesla stock skidded Monday, extending their recent losses, while AI stock Palantir Technologies (PLTR) briefly plunged on a sales miss before reversing higher.
On the economic front this week, investors are looking ahead to Thursday’s consumer price index for July, which is expected to give the Fed another month of benign data. Both the overall CPI and core prices are forecast to rise 0.2%. The CPI inflation rate is expected to pick up to 3.2% from 3%, as a flat reading from July 2022 drops out of the 12-month tally. Core CPI inflation should dip to 4.7% from 4.8%.
Late Monday, Lucid Group (LCID), Palantir, Shockwave Medical (SWAV) and Skyworks Solutions (SWKS) are key earnings movers.
Lucid shares raced 4.5% higher. SWAV stock tumbled more than 6%, as Skyworks dropped 2% in extended trade.
Palantir plunged as much as 12% late Monday before reversing 3% higher after the company’s earnings results. Quarterly earnings met estimates, while sales fell short of forecasts. The company also authorized a new $1 billion share buyback plan.