Nasdaq, S&P 500 eye gains as stocks rebound

Wall Street opened higher on Tuesday as stocks looked to extend the positive start to the week, with earnings in focus as investors continued to monitor the macroeconomic environment.

The S&P 500 had added 0.1% and Nasdaq Composite was edging up as the leading U.S. indexes looked to bounce. Meanwhile, the Dow Jones Industrial Average added about 90 points to extend the notable rebound seen on Monday.

Stocks saw a sharp sell-off last week, with Friday’s session in turmoil amid weak jobs data, fresh tariff concerns, and President Donald Trump’s firing of the Bureau of Labor Statistics commissioner.

As equities target a fresh rally, cryptocurrencies remain at key support and resistance levels. Meanwhile, the 10-year Treasury yield edged higher as markets digested the latest developments on tariffs. Corporate earnings and new data on the services sector also remain in focus.

Corporate earnings

Wall Street benefited from key earnings reports, led by positive results from top tech companies. The dip on Friday looked to dampen sentiment before markets bounced on Monday, and investors may be eyeing further strength as the earnings season picks up again. 

Palantir shares rose 6% after the defense technology company’s earnings report showed revenue exceeded $1 billion. Investors will want the same for AMD, Rivian, McDonald’s and Disney. AMD and Rivian report on Tuesday, while McDonald’s and Disney will release their earnings reports on Wednesday Aug. 6. 

Tariffs, Fed

In addition to earnings, tariff headlines remain a major driver of sentiment. While stocks have remained largely resilient since the initial negative reaction in April, ongoing developments continue to influence market outlook.

Meanwhile, Trump told CNBC in an interview that he has narrowed his list of potential Federal Reserve chair nominees to four. However, Treasury Secretary Scott Bessent is not among the candidates.

Fed Chair Jerome Powell, whose term ends in May 2026, has faced sharp criticism over the central bank’s interest rate policy.