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Dow Cuts Losses as Intel Rises on Tariff News; Earnings Send Palantir and Axon Soaring
ByAinvest
Tuesday, Aug 5, 2025 12:58 pm ET1min read
The Dow Jones Industrial Average trimmed larger losses to a fraction on Tuesday, following Monday's 585-point rally. Investors had a slew of earnings to review, including those of Palantir Technologies and Axon Enterprise, which both soared on the stock market. Volume was higher on the Nasdaq and NYSE compared to Monday. Intel rose on tariff news.
The Dow Jones Industrial Average (DJIA) trimmed its losses on Tuesday, following a robust Monday rally. The market closed with a fraction of its gains, buoyed by a mix of earnings reports and tariff developments.Palantir Technologies (PLTR) surged on its first $1 billion revenue quarter, with total revenue growing by 48% due to increased investment in AI tools by corporations and militaries [1]. Axon Enterprise (AAXN) also performed well, with investors reacting positively to its earnings report.
Volume was higher on the Nasdaq and NYSE compared to Monday, indicating strong investor interest. Intel (INTC) rose on news of tariff developments, with investors speculating on the impact of President Trump's recent tariff announcements on the semiconductor industry [2].
Denny's (DENN) posted lower same-store sales amid concerns about U.S. consumer spending, while ThredUp (THRED) saw a surge in new shoppers as consumers sought second-hand clothing amid economic uncertainty [1].
On the earnings front, Kyndryl (KYND) reported higher profits as businesses continued to invest in technology, and Wayfair (W) swung to an unexpected profit of $15 million in the second quarter despite a drop in active users [1].
The market also reacted to Elon Musk's $23.7 billion stock award from Tesla (TSLA), which aims to keep him focused on the company's goals despite legal challenges [1].
Looking ahead, investors will closely watch the implementation of President Trump's tariffs on pharmaceuticals and semiconductors, with potential impacts on the global supply chain and consumer prices [2].
References:
[1] https://www.morningstar.com/news/dow-jones/20250805377/dow-jones-top-company-headlines-at-1-am-et-palantir-surges-on-first-1-billion-revenue-quarter-hims
[2] https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-says-pharma-tariffs-could-go-to-250-threatens-eu-if-it-fails-on-investment-pledge-200619718.html
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