Stock Market Update

[BRIEFING.COM] The major averages continue to sit in a mixed fashion after spending the majority of the session in a sideways drift. 

The consumer discretionary (+1.8%) and information technology (+0.3%) sectors hold on to the bulk of their early gains, while the utilities (+0.2%) and communication services (+0.1%) sectors have also resurfaced in positive territory. 

Palantir Technologies (PLTR 206.21, +5.74, +2.86%) is one of the top movers in the information technology sector, trading higher ahead of its earnings release after the close. 

Since May 2024, Palantir has guided above consensus for both the next quarter and the full year. Investors will watch whether management continues this bullish trend and supports the view that its rapid growth and AI-driven demand are sustainable heading into year-end.  The bar is high, and with a forward P/E near 245x, shares are priced for perfection. Investors will be looking for another clear beat and above-consensus guide to keep the rally intact.