Stock Market Today, Aug. 7: Palantir Surges on Bank of America Upbeat View After Strong Earnings
Post-earnings momentum accelerated today as analyst enthusiasm fueled a 10% rally, signaling investor confidence in commercial AI demand, today, Aug. 7, 2026.
Overview
Palantir Technologies (NASDAQ:PLTR), an AI-powered decision software provider, closed at $172.01, up 10.32%. Today’s gains built on its post-earnings strength and Bank of America’s (NYSE:BAC) upbeat view, while investors are watching further upside after the quarter and commercial AI demand.
Trading volume reached 76.2 million shares, coming in about 75% above its three-month average of 43.5 million shares. Palantir Technologies IPO'd in 2020 and has grown 1,711% since going public.
The S&P 500 (SNPINDEX:^GSPC) closed at 7,758, up 0.62%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) finished at 26,690, up 1.30%. Among enterprise software and AI-driven data analytics peers, Snowflake (NYSE:SNOW) closed at $330.49, up 3.93%, and Datadog (NASDAQ:DDOG) closed at $233.93, up 2.02%, a sign that software investors are still weighing AI demand and spending trends.
Details
The AI data analytics software company was one of the big gainers in software names today. Momentum in Palantir shares began after its stellar earnings report earlier in the week. Investors are embracing software names like Palantir that are leveraging artificial intelligence and machine learning to provide insights and solutions for complex data sets.
Source
Originally published at www.fool.com.