Palantir Fuels Tech Stock Gains as Gold Bounces: Markets Wrap
(Bloomberg) — Robust earnings from Palantir Technologies Inc. drove global gains in technology stocks. Dip-buyers powered a rebound in precious metals, ending a two-day rout in gold and silver.
Nasdaq 100 futures rose 0.4%. Palantir Technologies Inc. surged 11% in premarket trading on a stronger-than-expected sales outlook. South Korea’s Kospi posted its biggest advance since 2020 as Samsung Electronics Co. jumped 11%. S&P 500 futures advanced 0.2%.
In metals markets, gold climbed more than 5% to rise above $4,900 an ounce as the US dollar fell. Silver jumped more than 10%.
Traders’ appetite for risk is on the mend after a steep drop in precious metals triggered a pullback from stocks and crypto at the end of last week. Strong US manufacturing data added to optimism, showing that the economy is on a sound footing as the earnings season rolls on.
“There is a lot of liquidity out there and it’s remaining committed to financial assets,” said Guy Miller, chief strategist at Zurich Insurance. “It’s rotating within the markets, and the macro backdrop is supportive of that continuing.”
Treasuries posted a small retreat, with the 10-year yield up one basis point at 4.29%. Bitcoin remained under pressure, hovering around $78,000.
What Bloomberg’s Strategists Say…
“Metals are once again on the up and strength in other FX peers, especially the antipodeans, has been enough to knock the dollar lower, seemingly back in line with the broader trend seen so far in 2026. The ‘as you were’ nature of these moves are also playing out in the stock markets, with long trades on the Kospi and on European stocks doing well today.”
— Adam Linton, macro strategist. For full analysis, click here.
Investors will turn their attention Tuesday to a slate of earnings, including Advanced Micro Devices Inc., after a favorable reception to Palantir’s report.
Traders are watching for signs that AMD is challenging Nvidia Corp.’s dominance in the market for artificial-intelligence accelerators as they look more broadly than the Magnificent Seven for winners of the AI trade. AMD has rallied more than 50% since October, while Nvidia remained largely flat.
In other earnings, PepsiCo Inc. reported better-than-expected fourth-quarter profit and announced a $10 billion share buyback. Merck & Co.’s forecast for 2026 sales and profit missed Wall Street’s expectations.
“Investors keep on focusing on the earnings season, which isn’t bad so far, with reasonable expectations that are not hard to meet,” said Roland Kaloyan, head of European equity strategy at Societe Generale. “I don’t see a reason for momentum to switch in the short term.”
Among the 178 S&P 500 companies that have reported so far this season, 79% have managed to beat analyst forecasts, while 16% have missed, according to data compiled by Bloomberg Intelligence.
Corporate Highlights:
Banco Santander SA and NatWest Group Plc are exploring offloading billions of pounds in UK pension assets to an insurer, according to people familiar with the plans. Elon Musk is combining SpaceX and xAI in a deal that values the enlarged entity at $1.25 trillion, as the world’s richest man looks to fuel his increasingly costly ambitions in artificial intelligence and space exploration. BP Plc needs to demonstrate how its decision to prioritize investment in oil and gas will create value for shareholders, according to a group of investors. Palantir Technologies Inc. forecast revenue for fiscal 2026 that significantly exceeded Wall Street expectations, a boost for the data analytics company after its shares have gotten off to a lackluster start so far this year.
Some of the main moves in markets:
Stocks
S&P 500 futures rose 0.2% as of 7:09 a.m. New York time Nasdaq 100 futures rose 0.4% Futures on the Dow Jones Industrial Average were little changed The Stoxx Europe 600 rose 0.2% The MSCI World Index rose 0.3% Currencies
The Bloomberg Dollar Spot Index fell 0.1% The euro was little changed at $1.1792 The British pound was little changed at $1.3664 The Japanese yen fell 0.2% to 155.89 per dollar Cryptocurrencies
Bitcoin fell 0.5% to $78,046.74 Ether fell 2.7% to $2,278.33 Bonds
The yield on 10-year Treasuries advanced one basis point to 4.29% Germany’s 10-year yield advanced two basis points to 2.89% Britain’s 10-year yield advanced one basis point to 4.52% Commodities
West Texas Intermediate crude rose 0.3% to $62.31 a barrel Spot gold rose 5.8% to $4,930.71 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Rose Henderson, Subrat Patnaik and Sujata Rao.
©2026 Bloomberg L.P.
