Dow, S&P 500, Nasdaq edge larger as Palantir lifts tech hopes, earnings flood in

Shares in Galaxy Digital (GLXY) fell by greater than 4% after the corporate disclosed Tuesday morning that it misplaced practically $500 million and posted unfavorable adjusted earnings for the fourth quarter, pushed by “depreciation of digital asset costs within the quarter.”

Michael Novogratz’s digital assets-focused monetary providers agency reported a fourth quarter adjusted loss per share of $1.08, falling beneath analyst estimates for a loss per share of $0.92. Galaxy Digital additionally missed on income for the quarter, reporting $10.2 billion in income towards analyst estimates of $12.15 billion.

The corporate stated in a press launch saying the earnings that its loss in crypto-driven income displays “a softer macro atmosphere and decrease trade buying and selling volumes and onchain exercise.”

Galaxy Digital additionally famous that its digital belongings buying and selling volumes declined by roughly 40% quarter-on-quarter, “reflecting softer consumer exercise following a report Q3.”

In Galaxy Digital’s information heart division, the corporate stated it “stays on monitor to ship 133MW of vital IT load to CoreWeave within the first half of 2026” and that it “obtained ERCOT approval for an extra 830 MW of energy capability,” bringing the entire authorised capability for its Helios campus to 1.6 gigawatts. bringing Helios’ whole authorised capability to greater than 1.6 gigawatts

The US inventory market largely ticked larger at Tuesday’s open as earnings rolled in, with Palantir’s (PLTR) outlook fueling religion in AI demand and treasured metals leaping to proceed their wild journey.

The tech-heavy Nasdaq Composite (^IXIC), S&P 500 (^GSPC), and Dow Jones Industrial Common (^DJI) all rose after the blue-chip benchmark led positive factors on Monday with a 500-point advance.

The S&P 500 is eyeing a recent report after Palantir’s surprisingly sturdy quarterly outcomes signaled continued power within the AI commerce. Elsewhere within the sector, traders are watching posturing Nvidia (NVDA) and OpenAI (OPAI.PVT) amid headlines hinting at a cooling relations between the high-profile AI gamers.

Market consideration now turns to chipmaker AMD’s (AMD) after-hours earnings report, which might present the very best look but on the AI commerce amid these fears of Massive Tech overspending and an AI bubble, and updates from Amazon (AMZN) and Alphabet (GOOG) later this week.

Gold (GC=F), silver (SI=F), copper (HG=F), and crude oil (CL=F, BZ=F) all picked up by means of Tuesday morning in a reversal to the main commodities sell-off on Monday.

Walt Disney (DIS) named parks division chief Josh D’Amaro as the corporate’s subsequent CEO, succeeding long-time chief Bob Iger. Shares ticked up by greater than 1% in premarket buying and selling on the information.

D’Amaro has led Disney’s parks and cruise companies — which function below the corporate’s Experiences unit — since 2020. He joined Disney in 1998.

D’Amaro will substitute Iger on March 18, in keeping with Disney’s assertion on Tuesday morning. Iger, who has successfully been on the helm of Disney since 2005, will stay on Disney’s board by means of the top of the yr.

Iger stepped down from the CEO position in February 2020 to get replaced by Bob Chapek, however he was reappointed as CEO in November 2022 after Chapek was ousted from the corporate.

As a part of the manager transfer, Dana Walden, co-chair of Disney Leisure alongside D’Amaro, has been named Disney’s president and chief inventive officer, the corporate stated.

The choice by Disney to nominate D’Amaro to the chief government position caps off years-long hypothesis over which of Iger’s high deputies can be tapped to guide one of many largest leisure corporations on the earth.

Learn the breaking information story.

PayPal (PYPL) inventory fell 15% earlier than the bell on Tuesday after issuing a disappointing revenue forecast for 2026 and reporting fourth quarter earnings beneath Wall Avenue estimates. The web cost firm stated it had been pressured by weaker US retail spending and gradual progress inside its branded checkout section.

The group additionally named HP’s (HP) Enrique Lores as president and CEO, efficient ‌March 1.

Reuters stories:

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AES Corp (AES) inventory jumped 7% earlier than the bell on Tuesday after BlackRock Inc.’s (BLK) International Infrastructure Companions stated be teaming up with EQT AB (6EQ.F, EQBBF) in its bid to purchase the ability firm.

Bloomberg Information stories:

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Intel (INTC) inventory rose nearly 3% earlier than the bell on Tuesday following the information {that a} subsidiary of Softbank (SFTBY, 9984.T), Saimemory, had signed a partnership cope with the US chipmaker. The settlement will assist advance the commercialization of next-generation reminiscence know-how, in keeping with an announcement from the businesses.

Sandisk (SNDK) inventory rose 4% throughout premarket hours after Bernstein SocGen raised its value goal on the know-how firm to $1,000 from $580 and maintained an Outperform score, citing the corporate’s optimistic second-quarter earnings report.

Micron (MU) inventory edged larger earlier than the bell on Tuesday, climbing 2% after launching a $24 billion high-tech storage facility in Singapore to help its AI initiatives.

AMD (AMD) rose 2% throughout premarket hours on Tuesday. The chip firm is making ready to report its fourth quarter earnings as we speak. AMD inventory has been up 10% over the previous month and risen 14% yr thus far.

Alibaba’s (BABA) US shares dipped 2% earlier than the bell as we speak following a dump in Chinese language know-how shares as a consequence of issues about authorities putting a tax on web companies.