US stocks: Earnings From Disney, Pfizer, Palantir in focus as markets digest tariffs and rate cut hopes

The Dow Jones Industrial Average gained 260 points, or 0.6 percent, in early trade (File image)

US stocks opened sharply higher on Monday, rebounding from last week’s steep losses as investors digested mixed economic signals, recalibrated tariff risks, and braced for a critical week of corporate earnings and macro data.

The Dow Jones Industrial Average gained 260 points, or 0.6 percent, in early trade. The S&P 500 climbed 0.7 percent, while the Nasdaq Composite rose 1 percent, bouncing back from Friday’s rout — the worst day for the S&P 500 since May and the steepest single-session drop for the Nasdaq since April.

Markets had tumbled Friday after President Donald Trump unveiled sweeping revisions to US tariffs, and July jobs data came in weaker than expected, reigniting concerns around stagflation. Tariffs ranged from 10 percent to 41 percent on dozens of trading partners, including Taiwan and Syria.

Key stock movers

Wayfair surged nearly 10 percent after blowing past Q2 earnings estimates, with adjusted earnings of 87 cents per share and upbeat revenue guidance. CEO Niraj Shah called it the company’s best growth quarter since early 2021.

Tyson Foods gained over 4 percent after the meat processor topped estimates and raised full-year revenue guidance on stronger chicken output.

On Semiconductor fell 7 percent after issuing soft Q3 guidance, even as its Q2 revenue beat analyst expectations.

What’s next

Markets now look ahead to a packed earnings calendar, with updates due from Palantir, AMD, McDonald’s, Disney, and Pfizer this week. Investors are also watching for key macroeconomic releases on trade deficit, productivity, and consumer credit, alongside remarks from Fed officials including Mary Daly, Raphael Bostic, and Alberto Musalem.

Asia-Pacific markets mostly close higher

Most Asia-Pacific markets ended Monday on a positive note, with investors reacting to the US tariff moves and July jobs report, while also watching oil price trends after OPEC+ announced major output hikes.

Hong Kong’s Hang Seng Index gained 0.92%, while Shanghai’s Composite rose 0.66 percent

South Korea’s Kospi added 0.91 percent, and the Kosdaq surged 1.46 percent

India’s Nifty 50 was up 0.64 percent, and the Sensex rose 0.52 percent at the close of day's trade

Australia’s ASX 200 ended flat, while Japan’s Nikkei 225 bucked the trend, falling 1.25 percent amid yen weakness and tech-sector pressure

Spot gold edged lower and oil prices slipped slightly after OPEC+ output hikes, while the yen remained under pressure against the dollar, reflecting investor caution on global rate trajectories.