Dow Closes at Record as Tech Rally Kicks Off a Packed Earnings Week

Stocks opened August with force on Monday. The Dow Jones Industrial Average climbed 1.3% to a record close, the S&P 500 gained 1.5%, and the Nasdaq Composite led with a 2.1% advance as Big Tech powered the rally. Falling oil prices, after President Trump called off a strike on Iran to pursue a Strait of Hormuz deal, added to the risk-on mood.

After the bell, Palantir delivered blowout results and raised its full-year revenue forecast to about $8.15 billion, sending shares up more than 16% in premarket trading Tuesday and lifting Nasdaq futures. SpaceX's first earnings report as a public company and results from AMD headline Tuesday's session.

For portfolio names, the momentum matters: a heavy week of reports is still ahead, including Clover Health on Wednesday, DraftKings on Thursday and Hertz on Thursday morning, with broader tech sentiment setting the tone.