The Dow Jones Industrial Average and other major stock indexes were sharply mixed Tuesday as Wall Street digested surprise housing data. Meanwhile, artificial intelligence leader Palantir Technologies threatened to continue its recent drop on the stock market today.
After the opening bell, the Dow added 0.4%, as the S&P 500 declined 0.1%. The tech-heavy Nasdaq composite fell 0.5% in morning trade.
The 10-year Treasury yield dipped to 4.31%. Oil prices dropped, as West Texas Intermediate futures traded near $62.65 a barrel.
Among exchange traded funds, the Invesco QQQ Trust moved down 0.4%. Also, the SPDR S&P 500 ETF dipped 0.1% after Tuesday’s market open.
Dow Jones Movers: Home Depot, Caterpillar, Microsoft, Amazon
Inside the Dow Jones Industrial Average, Home Depot and Caterpillar were among the top performers on the session at the market open, with gains of 4% and more than 1%, respectively.
On the downside, Microsoft and Amazon.com declined 0.5% and 0.8%, respectively. Microsoft shares are pulling back to their 10-week moving average, while Amazon stock is threatening to snap a five-day winning streak.
9:28 a.m. ET
Palantir Stock Set To Extend Losing Streak
Palantir stock declined more than 1% premarket Tuesday, on pace to extend its losing streak to five sessions.
Last week, the stock hit a record high at 190, but closed Monday more than 8% off that level. Still, the stock remains sharply above a 125.25 cup-with-handle entry.
8:56 a.m. ET
Stock Market Today: Surprise Housing Data
Early Tuesday, the Commerce Department said that July housing starts increased 5.2% on the month to an annual rate of 1.428 million vs. the 1.290 million estimate. The previous month was revised higher to 1.358 million, from 1.321 million.
Building permits missed estimates, falling more than expected, by 2.8% to 1.354 million in July vs. the 1.390 million estimate. The prior month was revised slightly lower to 1.393 million, from 1.397 million.
8:37 a.m. ET
Intel Jumps On $2 Billion SoftBank Investment
Shares of Intel leaped nearly 6% after SoftBank invested $2 billion in the struggling chipmaker.
The Silicon Valley powerhouse said SoftBank will pay $23 per share of Intel common stock.
“We are very pleased to deepen our relationship with SoftBank, a company that’s at the forefront of so many areas of emerging technology and innovation and shares our commitment to advancing U.S. technology and manufacturing leadership,” Intel Chief Executive Lip-Bu Tan was quoted as saying in a press release.
American depositary shares of SoftBank dropped nearly 5% in premarket action.
8:08 a.m. ET
Earnings Movers: Palo Alto Surges
Cybersecurity leader Palo Alto Networks jumped more than 6% in premarket trading Tuesday after the company reported fiscal fourth-quarter earnings that topped estimates while revenue met Wall Street targets. The cybersecurity firm’s fiscal 2026 outlook came in above expectations.
Other earnings movers included Amer Sports and Home Depot. Shares of Amer Sports tumbled more than 3%, while Home Depot stock gained more than 1% despite the firm’s weaker-than-expected earnings and sales results.
Stock Market Today: Housing Data
Housing starts and permits from the Commerce Department are due out at 8:30 a.m. ET.
Estimates from Econoday projects a drop in housing starts to 1.290 million for July from 1.321 million in June. Permits are seen at 1.390 million in July versus 1.397 million in June.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
