JOLTS Data and AMD Earnings Drive Markets 05/05/2026

 

HOT stories for today

Market wrap:

• Stocks retreated Monday as renewed Middle East tensions weighed on risk sentiment and pressured major indexes. The Dow Jones Industrial Average fell 557.37 points, or 1.1%, leading losses among the major benchmarks. The S&P 500 declined 0.4%, while the tech-heavy Nasdaq Composite slipped 0.2%. The pullback followed reports from the United Arab Emirates that Iran had launched drones and missiles against the country, raising fresh doubts over an already fragile ceasefire between the U.S. and Iran. Tensions also flared in the Strait of Hormuz.
• The U.S. reportedly said it sank Iranian boats in the key shipping lane, with Admiral Brad Cooper, head of U.S. Central Command, saying American forces eliminated six small Iranian vessels attempting to disrupt commercial shipping, according to Reuters. Iranian state media denied the boats were sunk. Oil prices rose during Monday’s regular session as geopolitical risks intensified, though U.S. West Texas Intermediate crude futures slipped 1% in after-hours trading. Investors will turn next to a busy Tuesday slate, with Pfizer, DuPont, PayPal, HSBC, Anheuser-Busch InBev, Marathon Petroleum, Duke Energy and Shopify among the companies due to report before the opening bell. On the data front, traders will watch the U.S. trade deficit report and the latest Job Openings and Labor Turnover Survey.

Palantir’s AI Boom Hits Record Pace

• Palantir (PLTR) slipped 2.7% in after-hours trading despite posting its fastest revenue growth on record, highlighting the elevated expectations surrounding one of Wall Street’s biggest AI winners. First-quarter revenue surged 85% from a year earlier to $1.63 billion, beating FactSet estimates of $1.54 billion. Adjusted earnings came in at 33 cents a share, above forecasts for 28 cents. The company’s U.S. business continued to drive growth, with revenue jumping 104% to $1.3 billion. Commercial sales climbed 133% to $595 million, rapidly catching up with Palantir’s government segment, which generated $687 million in revenue after growing 84%.
• Palantir also raised guidance, forecasting second-quarter revenue of up to $1.80 billion and full-year revenue of up to $7.66 billion, both ahead of Wall Street expectations. Executives used the earnings release to sharpen the company’s positioning in the AI race, describing Palantir’s platform as a “no-slop zone” where AI-driven actions remain governed and auditable. CEO Alex Karp said the company had nearly doubled its business in just 12 months while maintaining a lean operating structure. The results further cement Palantir’s role as a leading AI software player, though the muted stock reaction suggests investors may now be demanding more than just headline growth.

Stocks on the move:

• Paramount Skydance (PSKY): Shares rose about 2% after first-quarter results topped expectations. The company posted adjusted earnings of 23 cents per share on revenue of $7.35 billion, above LSEG estimates of 15 cents per share and $7.28 billion.
• Duolingo (DUOL): Shares fell about 13% after monthly active users missed estimates. The company reported 137.8 million active users, below StreetAccount expectations of 145.6 million. Second-quarter bookings guidance also came in light.
• Diamondback Energy (FANG): Shares slipped 1% even after the company beat first-quarter adjusted earnings and EBITDA expectations. Diamondback also approved a 5% increase to its base cash dividend.
• Pinterest (PINS): Shares jumped 15% after stronger-than-expected first-quarter results and upbeat second-quarter revenue guidance. The company expects revenue of $1.13 billion to $1.15 billion, above analyst estimates of $1.11 billion.
• Firefly Aerospace (FLY): Shares gained 6% after reporting a narrower-than-expected first-quarter loss and revenue that topped estimates. The company posted an adjusted loss of 46 cents per share on revenue of $80.9 million.

Watchlist: PLTR, FANG, PINS, FLY, SHOP, PFE, MU, AMD, NVDA

Key Economic Events Today:

EST time

08:30 am: USD Trade Balance
09:45 am: USD Final Services PMI
10:00 am: USD ISM Services PMI, New Home Sales
10:00 am: JOLTS Job Openings

Earnings

BMC (Before Market Open): Shopify (SHOP), Eaton Corp (ETN), Pfizer (PFE), Duke Energy (DUK), Cummins (CMI)

AMC (After Market Close): Advanced Micro Devices (AMD), Arista Networks (ANET), Suncor Energy (SU)


The TEFS Analyst team wishes you a successful day!