【US Pre-Market】PLTR Surges 16%, Storage Stocks Rally as Micron Rises Nearly 5%; AMD, SpaceX Earnings Ahead
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US stock index futures rose on Eastern Time August 4, led by a recovery in AI-related equities. Palantir surged nearly 16% on strong earnings, boosting sentiment for Nvidia, AMD, and storage chip makers. Despite the positive momentum, market caution persists due to conflicting US-Iran negotiation reports and upcoming JOLTS job openings data. Industrials like Caterpillar gained on AI infrastructure demand. Meanwhile, the administration is considering stricter regulations on Chinese data center equipment. Investors remain focused on today’s employment data and upcoming earnings from AMD to confirm the sustainability of current risk appetite.
TradingKey - On Tuesday (August 4) Eastern Time, futures on the three major US stock indices rose collectively in premarket trading, led by Nasdaq 100 futures. Overnight, US stocks rebounded, driven by a recovery in AI trading and a temporary easing of tensions in the Middle East, with the Dow posting a record close. Premarket today, Palantir ( PLTR) surged on earnings, continuing to reinforce the AI software theme, but conflicting signals from US-Iran negotiations, rebounding oil prices, and the upcoming release of JOLTS job openings data kept market sentiment cautious.
As of press time, Dow futures were up 0.87%, S&P 500 futures rose 0.26%, and Nasdaq 100 futures gained 0.94%.
Performance of the three major US stock index futures, Source: Investing
In commodities, gold ( XAUUSD) rose about 0.1%, climbing to around $4,060; international oil prices fluctuated slightly, with WTI ( USOIL) crude fell about 0.3% to trade near $79, while Brent crude rose about 0.1% to around $83.7. Trump claimed that negotiations with Iran have resumed, but Iran denied that ceasefire talks have been scheduled, and transit prospects through the Strait of Hormuz remain uncertain.
In cryptocurrencies, Bitcoin ( BTC) rose to near $63,600, up about 0.4% intraday. As Nasdaq futures strengthened, sentiment for some risk assets improved, but investors are still waiting for US employment data and major earnings this week to further confirm risk appetite.
Market Movers
Palantir rose nearly 16% in premarket trading. The company reported strong second-quarter results and raised its full-year revenue guidance, with the market continuing to view it as a key bellwether for AI software commercialization. Strong orders and improving demand from US commercial customers eased investor concerns over high valuations for AI application companies. Driven by Palantir's earnings, AI trading sentiment recovered, and Nvidia ( NVDA) rose over 1% in premarket trading, while Intel ( INTC) rose nearly 5%.
AMD ( AMD) rose over 5% in premarket trading. The company will release its second-quarter earnings after the market closes today, with the market focusing closely on revenue from the MI series AI accelerators, data center business growth, and gross margin guidance.
Storage chip stocks rallied across the board in premarket trading. Micron Technology ( MU) rose nearly 5% in premarket trading, SanDisk ( SNDK) rose over 5%, and Western Digital ( WDC) and Seagate Technology ( STX) also rose over 5%. On one hand, the market continues to bet on demand from AI servers for HBM, NAND, and high-capacity storage; on the other hand, easing US-Iran tensions have brought expectations of a recovery in helium supply, which has also alleviated cost concerns across the storage manufacturing chain.
Caterpillar ( CAT) rose over 9% in premarket trading. The company enters its second-quarter earnings window today, with the market focusing on the performance of its Power & Energy business. As AI data center construction drives up demand for backup power, gas turbines, and engineering equipment, Caterpillar is seen as one of the industrial-side beneficiaries of AI infrastructure expansion.
Market News
The outlook for US-Iran negotiations remains unclear. Trump stated that talks with Iran have restarted, calling it Iran's "last chance" to sign an agreement; however, an Iranian Foreign Ministry spokesperson said no ceasefire meetings are scheduled at this time. The market continues to focus on transit through the Strait of Hormuz and risks to crude oil supply.
The Trump administration plans to restrict imports of Chinese data center equipment. Reuters reported that the US government is drafting a ban to restrict imports of new Chinese data center components, focusing heavily on data center optical modules and optical transceivers.
The White House will convene AI executives to discuss a regulatory framework. According to media reports, the Trump administration will gather OpenAI, Alphabet ( GOOGL )'s Google, Anthropic, and other AI company executives at the White House on Tuesday to discuss the government's AI regulatory framework.
The US will release JOLTS job openings and factory orders data today. The market expects US JOLTS job openings for June to be 7.44 million, down from the previous 7.594 million; June factory orders are projected to grow 0.2% month-on-month, compared with a 1.3% decline previously.
Key Data and Events Preview
At 8:30 AM ET on August 4, the US will release its June trade balance, with the market expecting a deficit of $73 billion, compared to the previous deficit of $77.6 billion.
At 10:00 AM ET on August 4, the US will release June JOLTS job openings, June factory orders, and the August IBD/TIPP Economic Optimism Index.
After the market close on August 4 ET, AMD ( AMD ), SpaceX ( SPCX) and other companies will report earnings.
This content was translated using AI and reviewed for clarity. It is for informational purposes only.
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