Amid the rise in risk appetite, the S&P 500 Index snapped a four-session decline, ending 1.47% higher.
The broader market reversed on Monday, recovering from the steep losses witnessed on Friday, on hopes of an interest rate cut. The Dow Industrials jumped nearly 600 points, and small-cap stocks outperformed the broader market, with the Russell 2000 Index increasing by 2.10%.
Amid the rise in risk appetite, the S&P 500 Index snapped a four-session decline, ending 1.47% higher.
Earnings news continues to drive market activity, with more updates expected on Tuesday.
Palantir Technologies (PLTR)
After-hours move: +4.57%
Trading volume: 17.39 million
Palantir stock took off in after-hours trading on Monday after the company reported a solid quarterly beat and raised its full-year guidance. Investors cheered the Alex-Karp-led company’s first-ever billion-dollar revenue quarter.
Retail users of the Stocktwits platform relished the results, with sentiment flipping to ‘extremely bullish’ by late Monday from ‘bearish’ a day ago. The message volume also lifted to ‘extremely high’ levels.
Palantir stock, which was up over 112% year-to-date by Monday’s close, is on track to hit fresh highs on Tuesday.
Kenvue (KVUE)
After-hours move: +1.22%
Trading volume: 14.20 million
Kenvue stock has been on investors’ radar as the consumer health company spun off from Johnson & Johnson faces fundamental issues. The company has recently undergone a change in leadership and has also initiated a strategic review process.
The stock gained momentum ahead of the company’s second-quarter results, due on Thursday before the market opens. Fiscal.ai-compiled consensus puts the company’s earnings per share (EPS) and revenue at $0,28 and $3.85 billion, respectively. This marks a decline from the year-ago $0.32 and $4 billion, respectively.
The company is the maker of renowned healthcare product brands such as Tylenol and Band-Aid.
On Stocktwits, retail sentiment toward the stock continues to languish at a ‘bearish’ level, with the message volume remaining ‘low.’
Kenvue stock is up about 6% this year.
Apple (AAPL)
After-hours move: -0.05%
Trading volume: 12.71 million
Apple’s blowout third-quarter results did not ignite a rally in the stock as the soft July non-farm payrolls report played a spoilsport on Friday. The stock did not gain enough momentum on Monday, despite the broader market rally. The muted reaction reflected investor concerns about the impact of Trump tariffs and Apple’s lag in adopting artificial intelligence.
Bloomberg’s Mark Gurman said on Sunday that Apple is working on a stripped-down version of a standalone app, similar to ChatGPT, in-house.
Apple stock is down 18.60% this year, despite the broader market gaining over 8%. Retail traders, however, are upbeat, with Stocktwits sentiment meter showing a reading relaying an ‘extremely bullish’ mood.
Intel (INTEL)
After-hours move: flat
Trading volume: 9.65 million
Shares of struggling chipmaker Intel also saw brisk trading volumes in Monday’s extended hours. Late Monday, rating agency Fitch downgraded Intel’s “Long-Term Issuer Default Rating” (IDR) and senior unsecured ratings to ‘BBB’ from ‘BBB+,’ and affirmed its “Short-Term IDR and commercial paper rating at ‘F2’. The Rating Outlook was set at Negative.
The rating agency stated that the actions reflected its view that the demand environment would be more challenging than previously anticipated, thereby constraining profitability growth. It also expects the credit metrics to remain weak.
Intel shares continued to attract ‘bearish’ sentiment among users of the Stocktwits platform, with the sour mood accompanied by ‘low’ volumes.
The stock is down nearly 2.5% this year.
Nvidia (NVDA)
After-hours move: +0.37%
Trading volume: 9.14 million
Nvidia shares recovered from Friday’s sell-off and ended Monday’s session up 3.62% at $180, a record closing high. The stock, however, could not go past its intraday high of $183.30 in Monday’s session.
The stock is likely to continue its winning run on Tuesday, thanks to Palantir’s strong results and Cathie Wood’s Ark Invest snapping up more than 23,000 Nvidia shares.
Retail sentiment toward Nvidia stock tempered slightly to ‘bullish’ from ‘extremely bearish’ a day ago. The message volume remained at ‘high’ levels.
The stock has gained a whopping 34% this year.
The Jensen Huang-led company, which is riding high on its near-monopoly position in the AI chip market, is scheduled to report its quarterly results on Aug. 27. Traders may read the tea leaves from AI chip peer AMD’s (AMD) results due Tuesday after the market close and the management commentary.
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