The S&P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year. The advances pushed the S&P 500 to a fourth straight higher close, and its best winning run since March.
Shares of Palantir Technologies fell 15.1% on Tuesday in their biggest daily percentage drop since May 2022, a day after the data analytics company gave a revenue forecast that disappointed. Still, several brokerages raised their price targets following the report, including D.A. Davidson, which raised its target to $24 from $19. "While guidance for FY2024 was increased, it was lighter than expected," D.A. Davidson analysts wrote in their research note, adding that management had noted "they're seeing unavoidable headwinds in Europe."
Canada's main stock index rose for a fifth straight day on Tuesday, edging closer to a new record high, as investors grew confident that a rally in heavily-weighted resource shares could be sustained. The Toronto Stock Exchange's S&P/TSX composite index ended up 31.15 points, or 0.1%, at 22,290.62, extending a string of gains since last Wednesday. "If you have two out of those three categories that are working, you've got a good market," said Philip Petursson, chief investment strategist at IG Wealth Management.
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|
Symbol | Last price | Change | % change |
---|---|---|---|