NEW YORK, August 4, 2026, 09:05 EDT
- Dow futures rose approximately 1.2%. Caterpillar contributed nearly 91% of a particular 622-point increase.
- Futures for the Nasdaq 100 climbed 1.1%. S&P 500 futures were up 0.3% ahead of the 9:30 a.m. market open.
- The trade gap in June decreased to $73.3 billion. June figures for job openings are scheduled for release at 10 a.m.
U.S. stock futures climbed ahead of Tuesday’s opening bell. Dow futures increased by about 600 to 650 points, with most of the advance attributed to Caterpillar.
According to Barron’s, Caterpillar was responsible for over 564 points of the Dow’s 622-point rise, accounting for roughly 91% of the index’s advance. This concentration gives the impression that the Dow’s gains were more widespread than they actually were.
The Dow is weighted by price. Caterpillar was trading close to $927 ahead of the open, ranking as the index’s second most expensive stock. Goldman Sachs NYSE:GS was near $1,041, and Microsoft NASDAQ:MSFT traded around $478.
| Benchmark | Premarket move | Monday cash close | Market signal |
|---|---|---|---|
| Dow futures | +651 points, +1.2% | 53,178.41, +1.32% | All-time high; driven by CAT |
| S&P 500 futures | +0.3% | 7,600.50, +1.48% | Roughly 21 points under record |
| Nasdaq 100 futures | +1.1% | Nasdaq Composite 25,913.90, +2.13% | Gains in AI and tech stocks |
Barron’s provided the latest futures snapshot. Reuters supplied Monday’s cash-market closing data.
The S&P and Nasdaq maintained clear buying interest in equities. Their more modest advances provide a clearer indication of overall risk appetite. Both indexes were lifted by robust earnings from AI-related sectors.
| Dow contribution snapshot | Points | Share of total |
|---|---|---|
| Total Dow futures increase | +622 | 100% |
| Caterpillar’s impact | Above +564 | Over 90.7% |
| Combined 29 other components | Below +58 | Under 9.3% |
Estimate based on Barron’s disclosed contribution and movement in futures. Numbers were initial and adjusted with premarket trading.
Brian Levitt, Invesco’s NYSE:IVZ chief global market strategist, said investors need to distinguish between changes in momentum and true declines in company performance. “It is important not to confuse a momentum unwind with a fundamental deterioration,” he said. Reuters
| Company | Premarket move | Main catalyst |
|---|---|---|
| Palantir Technologies NASDAQ:PLTR | Up roughly 15% to 16% | Boosted revenue guidance |
| Caterpillar | Up approximately 11% | Set record sales for the quarter |
| onsemi NASDAQ:ON | Up around 7% | Upgraded revenue expectations |
| Advanced Micro Devices NASDAQ:AMD | Up close to 5% | Financial report expected after market close |
| McDonald’s NYSE:MCD | Up about 1% | Quarterly earnings topped estimates |
| Spotify Technology NYSE:SPOT | Down roughly 4% | Fell short on earnings projections |
Approximate premarket moves are recorded between 8:00 and 9:00 a.m. EDT.
Caterpillar posted a 24% rise in sales to $20.5 billion, marking its first quarter with revenue exceeding $20 billion. Adjusted earnings climbed to $8.17 per share, up from $4.72.
Operating margin rose to 20.9% compared with 17.3%. CEO Joe Creed said “broadening momentum across all three of our primary segments” was reflected in strong orders and backlog. Caterpillar Inc.
Palantir posted the second significant earnings update. Revenue increased 93% to $1.935 billion. U.S. commercial revenue surged 149% to reach $764 million.
Palantir increased its full-year revenue outlook to a range of $8.150 billion to $8.158 billion, up from the previous forecast of about $7.65 billion to $7.66 billion. The raised guidance highlighted ongoing demand for AI software and data infrastructure.
Strong earnings are being reported by more than just two firms. Out of 304 S&P 500 companies that have announced results as of Friday, 85.2% exceeded expectations. The historical average is 67.5%. Earnings growth was reported at 29.3%.
| U.S. data watch | Latest or consensus estimate | Comparison | Release time |
|---|---|---|---|
| June trade gap | $73.3 billion actual | $77.6 billion in May | 8:30 a.m. |
| June goods gap | $102.1 billion actual | Decrease of $3.9 billion | 8:30 a.m. |
| June services surplus | $28.8 billion actual | Increase of $0.5 billion | 8:30 a.m. |
| June job openings | 7.4 million estimate | 7.6 million previously | 10:00 a.m. |
Trade data is sourced from official records. The job-openings number reflects a Reuters consensus forecast.
Oil gave additional support to markets. U.S. crude fell over 3% to trade near $77.50 at about 8:20 a.m. Treasury Secretary Scott Bessent stated that a Strait of Hormuz deal might be reached as soon as Tuesday or Wednesday.
The upcoming major corporate update is expected after market close. Quarterly results from AMD and SpaceX NASDAQ:SPCX are due, with investors watching to see if robust AI demand continues to benefit processors, computing infrastructure, and data-center investment.
Risks: Ongoing uncertainty around Hormuz negotiations keeps oil exposed to the risk of a sudden reversal. Robust job openings data may push Treasury yields higher. Caterpillar’s significant weighting in the Dow brings increased single-stock risk.
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