S&P 500, Nasdaq poised for higher open as earnings deluge takes center stage

By Pranav Kashyap and Twesha Dikshit

Feb 3 (Reuters) - The S&P 500 and the Nasdaq looked acceptable for a steadfast unfastened connected Tuesday, stabilizing aft a commodity rout successful the erstwhile session, arsenic investors geared up for ​a flood of firm results done the week.

Palantir Technologies jumped 11.2% successful premarket trading aft upbeat results highlighted request ‌for its military-grade AI tools, with U.S. defence spending helping assistance quarterly sales.

Teradyne surged 22% aft the chip-testing instrumentality shaper issued a beardown first-quarter forecast, riding a ‌separate question of AI-linked concern arsenic large tech pours multibillion-dollar sums into data-center expansion.

"Palantir's bully net is adjuvant for the AI trade," said John Campbell, elder portfolio manager, Allspring Global Investments.

Alphabet roseate 1.3% aft notching a grounds precocious successful the erstwhile session, portion Amazon added 0.8%. Both the "Magnificent Seven" heavyweights are owed to study aboriginal this week, offering investors different work connected the contention to commercialize artificial intelligence.

Advanced ⁠Micro Devices and server shaper Super Micro Computer, ‌both owed to study aft the close, gained astir 2% each.

"We've been observing a batch of accelerated wealth pre-positioning into names close up of net trying to play for an net pop. We're seeing ‍a small spot of that," Campbell added.

Recent net from the biggest exertion companies person underscored a increasing capitalist absorption connected payback from soaring superior expenditure plans. Spending connected AI-related infrastructure has climbed sharply, putting unit connected companies to construe concern into measurable returns that tin enactment lofty valuations.

Meanwhile, ​PayPal forecast 2026 nett beneath estimates, sending its shares falling 17.2%.

On the macro-front, the House of Representatives volition effort to walk ‌a woody aboriginal successful the time to extremity the latest shutdown that has again thrown economical releases disconnected schedule, delaying the intimately watched January jobs study that had been owed connected Friday.

Tuesday's JOLTS study has besides been postponed.

At 8:28 a.m. ET, Dow E-minis were up 3 points, oregon 0.01%, S&P 500 E-minis were up 17.75 points, oregon 0.25%, and Nasdaq 100 E-minis were up 144.25 points, oregon 0.56%.

On Monday, the S&P 500 and the Dow ended adjacent grounds levels, portion the Nasdaq finished 0.5% higher.

EARNINGS DELUGE

About 1 ⁠quarter of the S&P 500 is acceptable to study quarterly results this week ​and analysts expect S&P 500 companies to person grown their net astir ​11% successful the December quarter, up from an estimation of astir 9% astatine the commencement of January, according to LSEG data.