- Dow Jones futures are on the rise ahead of Tuesday’s stock market opening, following a plunge in shares of AI leader Palantir Technologies (PLTR) due to their first-quarter earnings results.
- Other key earnings movers include Axon Enterprise (AXON), Lucid Motors (LCID), Microchip (MCHP) and Vertex Pharmaceuticals (VRTX).
- Apple’s “Let Loose” event is set to take place on Tuesday, with expectations of new iPad Pro models being unveiled.
Stock market news: Dow Jones futures rise ahead of Tuesday’s opening bell, while shares of AI leader Palantir Technologies plunge following Q1 earnings results. Apple’s “Let Loose” event is also set to take place on Tuesday.
Dow Jones Futures Rise
Dow Jones futures rose 0.1% vs. fair value ahead of Tuesday’s opening bell, following a 0.5% increase in the Dow Jones Industrial Average on Monday. S&P 500 futures remained flat, while tech-heavy Nasdaq 100 futures were down 0.2% vs. fair value.
Palantir Technologies Shares Plunge
Shares of artificial intelligence leader Palantir Technologies plunged more than 11% in premarket trade, despite reporting in-line quarterly earnings and higher sales numbers than expected. The shares had surged 8.1% on Monday to retake their 50-day line.
Other Key Earnings Movers
Axon Enterprise shares dropped almost 1%, Lucid Motors stock skidded nearly 7%, Microchip shares sold off 4%, and Vertex Pharmaceuticals stock climbed nearly 1% in extended trade.
Apple’s “Let Loose” Event
Apple’s “Let Loose” event is set to start at 10 a.m. ET on Tuesday. Two new iPad Pro models are expected to be unveiled, the 11 -inch and the 12.9-inch models, according to Forbes. A new design that changes the look of the tablets for the first time in more than three years is also expected.
Conclusion
As the stock market prepares to open on Tuesday, Dow Jones futures are on the rise. However, shares of AI leader Palantir Technologies have taken a hit following their Q1 earnings results. Other key earnings movers have also seen significant shifts in their stock prices. All eyes will be on Apple’s “Let Loose” event, where new iPad Pro models are expected to be unveiled.
