US pre-open: Futures edge higher as tech strength extends rally
By Iain Gilbert
Date: Tuesday 04 Aug 2026
(Sharecast News) - Wall Street futures were in the green ahead of the open on Tuesday following a strong rally in the previous session, fuelled by a strong performance from major technology names.
As of 1240 BST, Dow Jones futures were up 0.75%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.23% and 0.91% higher, respectively.
The Dow closed 693.38 points higher on Monday as renewed hopes of a de-escalation in the Middle East sent oil prices firmly lower.
Earnings from Palantir were in focus prior to the open after the firm lifted its full‑year guidance following strong US demand, with the company forecasting at least $8.15bn in revenues and $3.4bn from its US commercial division - both ahead of which were ahead of expectations. Palantir also posted better‑than‑expected Q2 earnings, as US sales jumped 23% to $1.57bn, helping net income rise to $1.06bn.
Caterpillar jumped in pre-market action after it delivered a strong Q2 beat, posting $8.17 adjusted earnings per share on $20.54bn revenue versus expectations for $6.20 and $19.34bn, respectively, while Merck also rose before the opening bell as Q2 results topped forecasts, with a smaller‑than‑expected adjusted loss and higher‑than‑anticipated revenue. The pharma group also hiked uts full‑year sales guidance.
Pfizer beat Q2 expectations and lifted the lower end of its revenue outlook on stronger non‑Covid demand, reporting $15.03bn in sales and $0.77 adjusted EPS, while Spotify hit 300m premium subscribers and delivered a sharp swing to profit, with revenues up 14% and gross margins reaching a record 33.4%, though monthly active users came in slightly below guidance, and McDonald's posted mixed Q2 results as US same‑store sales growth slowed, with net income rising to $2.36bn and revenue up 4% to $7.1bn, while global comparable sales increased 1.3%.
Still to come, SpaceX, AMD and Booking Holdings will publish their latest quarterly figures after the close.
Treasury yields were also drawing an amount of investor attention before the start of trading, with the yield on the benchmark ten-year note up just over one basis point at 4.69%.
On the macro front, June's goods and services trade balance will be released at 1330 BST, while June's JOLTS jobs report and factory orders numbers will follow at 1500 BST.
Reporting by Iain Gilbert at Sharecast.com
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