The Dow Jones Industrial Average closed higher on Tuesday, following a strong showing by tech stocks, particularly Palantir (PLTR), which surged 23% after reporting robust fourth-quarter earnings. Costco Wholesale (COST) also made a notable move, breaking out of its base.
The index added 0.3%, staying above its 50-day moving average. Despite the gains, investors are still navigating a volatile market. Google’s earnings were mixed, causing it to fall later in the day.
Other tech stocks, such as Spotify and Duolingo, also saw significant increases. However, Alphabet fell late in the trading session. The rally was sparked by jobs data that indicated a favorable environment for the Federal Reserve.
Palantir’s CEO, Karp, hailed the company’s earnings as a sign of its emergence as a “software juggernaut.” Meanwhile, investors are focusing on PayPal’s strategy after news about Braintree emerged.
Source: https://www.investors.com/market-trend/stock-market-today/stock-market-today-dow-jones-sp-500-palantir-stock-pltr-nvidia-nvda