S&P 500 Dow Jones Nasdaq: U.S. Stock market prediction for Tuesday: Will S&P 500, Dow Jones, Nasdaq trade in green? These factors will decide
U.S. stocks fell from their record heights, while oil prices jumped following escalations in the Middle East that may undermine the ceasefire in the war with Iran. The S&P 500 fell 0.4 per cent on Monday, coming off its latest all-time high. The Dow Jones Industrial Average dropped 1.1 per cent, and the Nasdaq composite slipped 0.2 per cent.
Stocks turned lower after the United Arab Emirates, a U.S. ally, said it came under attack by Iran for the first time since the ceasefire took hold in early April. The attacks appeared to be in response to President Donald Trump’s latest efforts to reopen the Strait of Hormuz.
On Monday, S&P 500 fell 29.37 points, or 0.4 per cent, to 7,200.75, Dow Jones Industrial Average fell 557.37 points, or 1.1 per cent, to 48,941.90, Nasdaq composite fell 46.64 points, or 0.2 per cent, to 25,067.80. Russell 2000 index of smaller companies fell 16.83 points, or 0.6 per cent to 2,796.00.
Palantir Technologies raised its annual revenue forecast and beat estimates for quarterly results on Monday, a sign of growing demand for its data analytics software from the U.S. government and commercial clients.
The rising adoption of artificial intelligence tools in modern warfare has boosted demand for software platforms developed by companies such as Palantir that help defense departments analyze data and make real-time targeting decisions.
Shares of the company were down 1.5 per cent in extended trading. The stock has fallen around 18 per cent this year.
Last month, Palantir secured a $300 million contract with the U.S. Department of Agriculture. The company forecast second-quarter revenue of $1.797 billion to $1.801 billion, above estimates of $1.68 billion.
