Stocks leap on Palantir earnings, but Goldman warns the U.S. ‘is near stall speed’—where the economy ‘weakens in a self-reinforcing fashion’

(Credit: Thomas Barwick—Getty Images)

• Palantir’s blowout earnings, with revenue up nearly 50% and net income up 144%, are sparking a tech rally as investors bet on AI-driven headcount reductions. Broader markets show gains, buoyed by expectations of early Fed rate cuts and a decent Q2 earnings season. However, Goldman Sachs warns the U.S. economy is “near stall speed” owing to sharply declining job growth. Lurking in the background: Trump’s war on the BRICS.

Tech company earnings appear to be driving the stock markets upward today after Palantir delivered a massive quarter after the markets closed in the U.S. last night. S&P 500 futures were up 0.27% this morning, premarket. Europe and Asia were broadly up this morning, too.