United States stock futures moved slightly higher on Monday night (Tuesday AEST) following a strong rally during regular trading, supported by falling oil prices and sharp gains among major technology companies.
By 10:15 am AEST (12:15 am GMT), Dow futures had gained 0.2%, S&P 500 futures rose 0.1%, and Nasdaq-100 futures advanced 0.3%.
Palantir Technologies surged 13.9% after the data analytics company reported stronger-than-expected second-quarter results, driven by a nearly 150% increase in U.S. commercial revenue.
On Semiconductor climbed 6.5% after the chipmaker exceeded analyst expectations for its second-quarter results. The company reported earnings per share (EPS) of $0.74 against expectations of $0.71, while revenue reached $1.6 billion compared with forecasts of $1.59 billion.
Snap, the parent company of Snapchat, gained 6.9% after reporting a loss of 10 cents per share, narrower than the expected loss of 12 cents per share. Revenue came in at $1.6 billion, ahead of estimates of $1.54 billion.
Major U.S. stock indices rallied on Monday, with the Dow closing at a record high as Amazon's market capitalisation surpassed $3 trillion for the first time. Nvidia shares also climbed, alongside gains from Meta Platforms, Alphabet and Microsoft.
Oil prices also supported equities, with WTI crude falling 5.1% to settle at $80.34 per barrel.
Investors will monitor a range of corporate earnings on Tuesday, including reports from Caterpillar and McDonald’s. Semiconductor company AMD is also scheduled to release results after the market close.
Economic data due for release includes June factory orders and international trade figures for the month.
