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Informist, Wednesday, Aug. 5, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices end higher Tue on good earnings, US-Iran deal hope

 

MUMBAI--0716 IST--US markets closed higher Tuesday, boosted by companies' earnings and comments from the Treasury Secretary Scott Bessent that the US and Iran could be nearing a deal to reopen the Strait of Hormuz. The technology-heavy Nasdaq Composite closed almost 3% higher. The Dow Jones Industrial Average and the S&P 500 both closed around 2% higher, and hit record highs.

 

Shares of Caterpillar rose more than 5?ter the company reported higher earnings for the June quarter. Shares of tech company Palantir rose nearly 30?ter the company reported a more than two-fold on-year increase in its revenue for the June quarter. The company's CEO, Alex Karp, termed the company's second quarter earnings as "otherworldly."

 

"The only thing that really mattered was the question on ROI driving earnings higher and the question of whether or not earnings are in a bubble--and the answer is no," CNBC quoted Alicia Levine, chief investment officer at BNY Wealth, as saying.

 

Elon Musk, founder of SpaceX, said that the company's capital expenditure for the June quarter rose to $18.4 billion. The shares shed 7% post this during the after-hour trading. The chipmaker Advanced Micro Devices fell 8?ter it posted adjusted earnings which beat the Street's estimates by a whisker. 

 

Investors await Automatic Data Processing's private payrolls report for July, the S&P Global Services Purchasing Managers Index and the Institute for Supply Management's non-manufacturing readings for July, all due Wednesday. Companies which will be posting their earnings on Wednesday include e.l.f. Beauty Inc, Disney, Uber, Eli Lilly, and DoorDash, CNBC reported.

 

Following were the closing levels of major US indices Tuesday:

 

Index	Level	Change in %
Dow Jones Industrial Average	54085.88	1.7
NASDAQ Composite	26584.99	2.6
S&P 500	7736.52	1.8

 

(Deesha Jadhav)

 

US$1 = INR 95.38

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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