U.S. stock futures were mixed in early trading Monday as investors braced for a key inflation report and digested a wave of corporate earnings and strategic moves. The S&P 500 and Nasdaq 100 futures edged higher, while Dow futures pointed to a slightly lower open, reflecting a cautious tone across markets.
Trade Desk's Downbeat Guidance Rattles Ad-Tech Sector
The Trade Desk (NASDAQ:TTD) saw its shares plummet 21.9% to $13.80 after the company projected a 12% decline in third-quarter revenue, expecting at least $650 million. That figure came in 19.4% below analyst consensus estimates, raising concerns about the broader digital advertising market's health. The company also guided for a sharp contraction in adjusted EBITDA margin to 24.6%, down from 43% in the same period last year. While customer retention remained strong at above 95%, the guidance contrasted sharply with rivals like Magnite and PubMatic, which both reported 11% revenue growth, highlighting potential pricing pressures and softer client spending.
Palantir's Meteoric Rise Continues
In stark contrast, Palantir Technologies (NASDAQ:PLTR) surged 39.8% over the past week to close at $172.01, marking its strongest weekly gain since November 2024. The stock's market capitalization now stands at approximately $441.8 billion, trading at 54.2 times the midpoint of its 2026 sales guidance of $8.154 billion. The company's U.S. revenue, which accounts for 81.3% of total income, grew an impressive 114.7%, while international sales rose 33.7%. With second-quarter revenue and adjusted EPS beating expectations, Palantir raised its full-year outlook, citing robust momentum in U.S. commercial demand and strong new bookings.
SpaceX Shares Surge After Lock-Up Expiry
SpaceX (NASDAQ:SPCX) climbed 15.83% to $133.11, with trading volume reaching 54.6% of its available float. The company's capital expenditure plan allocates 92.6% toward its Space and AI divisions, which together posted a combined operating loss of $1.799 billion. However, Starlink's connectivity business delivered $1.656 billion in operating profit, nearly offsetting those losses. The stock remains 1.4% below its IPO price and 41% off its high after the lock-up expiry doubled the tradable share count. Analysts remain bullish, with Bank of America setting a $235 price target and Bernstein raising its outlook to $248.
Geopolitical Tensions and Commodities
Investors are also monitoring geopolitical risks, particularly around the Strait of Hormuz, as prospects for reopening the key oil shipping lane diminish following renewed demands from Iran. Oil prices edged higher in response, while Asian equities climbed, led by Japan's Nikkei 225. U.S. Treasury yields slipped slightly, with the 10-year and 30-year notes down about 1 basis point each. Market participants are now focused on July's core inflation data, which could influence the Federal Reserve's next move. Softer July payroll figures have reduced the probability of a September rate hike from 67% to 44%.
Corporate Moves and Commodities Outlook
In other corporate news, Festi hf. repurchased 265,000 shares during week 32 for ISK 81.7 million, bringing its cumulative buyback to 1,265,000 shares worth ISK 394.9 million. The company now holds 1.58% of its issued capital, with the program set to continue up to 3 million shares and ISK 1 billion in total expenditure. Meanwhile, ADNOC Gas announced an $8.2 billion investment in its Rich Gas Development project, targeting a 60% EBITDA growth by 2030. The initiative includes a $3.9 billion gas processing train at Habshah and a $4.3 billion natural gas liquids fractionation unit, part of the Ruwais LNG project slated for completion by late 2028, which will double LNG output to 15 million tons annually.
In commodities, silver (XAG/USD) extended its rally, trading near $64.30 after breaking above July's high of $63.30, confirming a bullish head-and-shoulders pattern with a projected target of $67.17. Gold and other precious metals also saw modest gains amid the softer dollar and inflation jitters.
Looking ahead, this week's economic calendar includes the producer price index, weekly jobless claims, and retail sales data, all of which will provide further clues on the health of the U.S. economy and the path of monetary policy. With earnings season winding down and macro data taking center stage, market volatility is likely to persist as traders navigate a complex landscape of corporate results, geopolitical uncertainty, and shifting Fed expectations.
