Why Palantir Stock Is Surging Today

After sell-offs yesterday, Palantir (NASDAQ: PLTR) stock is rising in Tuesday's trading. The software specialist's share price was up 3.6% as of 10:15 a.m. ET amid the backdrop of a 1.9% gain for the S&P 500 and a 2.1% gain for the Nasdaq Composite. The stock had been up as much as 6.1% earlier in the session.

The stock market is rebounding after sell-offs yesterday as investors hope that there could soon be some positive developments on the tariff and trade war fronts. According to a report published by Bloomberg today, a key Trump administration official recently signaled that the trade situation between the U.S. and China could de-escalate in the near future.

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Stocks rise on hopes that trade war tensions could ease

At an investor summit today, U.S. Treasury Secretary Scott Bessent reportedly told attendees that the trade war with China was not sustainable, and that he anticipates that the tariff situation will de-escalate. On the heels of gloom driven by the uncertain macroeconomic outlook and deteriorating U.S.-China relations, investors are having a strong bullish reaction to the possibility that some aspects could see a meaningful improvements in the near term. Palantir is benefiting from the broader market momentum, and its stock is now up 23% in 2025.

What's next for Palantir?

Palantir is scheduled to publish its first-quarter earnings results after the market closes on May 5. With its last update, Palantir said that it expected sales to come in between $858 million and $862 million for the period -- representing growth of 35.6% at the midpoint of the guidance range.

The company also said it expected non-GAAP (adjusted) operating income to be between $354 million and $358 million -- good for year-over-year growth 57.5% at the midpoint of the target range. Given Palantir's history of performance beats and recent contract momentum, there's a good chance that the business will deliver results that come in above its guidance ranges. On the other hand, expectations are certainly high heading into the report, so investors may want to exercise caution.

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