Stock Market Today: Stock Rally Runs Out of Steam
A sharp post-earnings selloff for Walt Disney stock kept a lid on the Dow Tuesday.


Stocks were choppy Tuesday as market participants took a breather following three straight days of impressive gains.
Amid a relatively bare economic calendar, investors turned their attention to a busy earnings docket with several high-profile names making big moves.
Among them was Palantir Technologies (PLTR), which fell 15.1% after its first-quarter results. The data analytics firm reported earnings and revenue that beat analysts' estimates and raised its full-year revenue forecast. Still, its upwardly revised fiscal 2024 outlook was below what Wall Street was expecting.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
However, Wedbush analyst Daniel Ives remains upbeat about Palantir's growth outlook. In fact, he sees "increased momentum" in the stock's story thanks to the company's Artificial Intelligence Platform (AIP).
"AIP [is] leading the charge in generating significant demand across both commercial and government landscapes while [being] well-positioned to gain a larger share of this $1 trillion opportunity taking place with AI use cases exploding globally," Ives said after earnings. The analyst has a Buy rating and a $35 price target on PLTR, representing implied upside of 62% to current levels.
Buy the dip on Disney stock?
Walt Disney (DIS) was another notable post-earnings mover, with the blue chip stock diving 9.5% after its results. The media and entertainment giant disclosed higher-than-expected earnings for its fiscal second quarter and said its Disney+ and Hulu streaming services reported a profit for the first time. However, Disney's total revenue fell short of what Wall Street expected.
"Today's market reaction to a decent earnings report from Disney shows there are still too many moving parts and uncertainties at the Mouse House for investors to get excited," says Don Montanaro, president of Firstrade.
Montanaro expects more near-term volatility for DIS as several initiatives shake out. However, he adds that "smart investors might want to buy Disney when it dips like it has today, and then patiently hold as the future dynamism of streaming revenues emerges over time."
Apple gains after iPad event
While Disney was the worst Dow Jones stock today, Apple (AAPL, +0.4%) found itself on the plus side of the ledger following its "Let Loose" event.
It was the first time in two years the tech giant launched new versions of its iPad, with Apple also unveiling a new iteration of its Apple Pencil Pro and debuting its AI-enhanced M4 chip.
CFRA Research analyst Angelo Zino reiterated a Buy rating on the Magnificent 7 stock Tuesday. "After a major iPad drought (last refresh in 2022), we think these upgrades, along with better Pro price points, will help drive a return to growth for the category (down five straight quarters, with year-over-year declines in nine of last 10)," Zino wrote in a note.
As for the major indexes, the Nasdaq Composite fell 0.1% to 16,332, while the S&P 500 (+0.1% at 5,187) and the Dow Jones Industrial Average (+0.1% at 38,884) eked out modest gains.
Related content
- Kiplinger's Economic Calendar for This Week
- Datadog Earnings Overshadowed By Leadership Shift: What To Know
- If You'd Put $1,000 Into Disney Stock 20 Years Ago, Here's What You'd Have Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
The Me-First Rule of Retirement Spending
Follow the 'Me-First" rule and you won't have to worry about running out of money when the stock market goes south.
-
How to Plan Your First International Trip After Retirement
Retirement paves the way for a world of exciting (and intimidating) experiences. An overseas journey can be an ideal way to embrace this new phase of life.
-
I'm a Financial Planner: Could Partial Retirement Be the Right Move for You?
Many Americans close to retirement are questioning whether they should take the full leap into retirement or continue to work part-time.
-
From Mortgages to Taxes to Estates: How to Prepare for Falling Interest Rates
As speculation grows that the Federal Reserve will soon start lowering interest rates, now is a good time to review your financial plans for housing, estate, taxes, investing and retirement to make the most of potential changes.
-
This Is How Lottery Winners Build Lasting Legacies, From a Financial Professional
Winning a massive lottery jackpot, like the recent $1.4 billion Powerball, requires seeking immediate legal and financial counsel, protecting your identity and winnings and planning your legacy.
-
S&P 500 Slips Ahead of Fed Week: Stock Market Today
All eyes are on the Federal Reserve ahead of next week's critical policy meeting.
-
September Fed Meeting: Live Updates and Commentary
The September Fed meeting is a key economic event, with Wall Street keyed into what Fed Chair Powell & Co. will do about interest rates.
-
I'm an Investment Strategist: This Is How the Fed's Next Rate Move Could Impact Your Wallet
Interest rate cuts might be coming, which could affect everything from your credit card debt to your mortgage. It's smart to prepare now — here's how.
-
I'm a Retirement Planner: These Are Three Common Tax Mistakes You Could Be Making With Your Investments
Don't pay more tax on your investments than you need to. You can keep more money in your pocket (or for retirement) by avoiding these three common mistakes.
-
Want to Shave 10 Hours Off Your Workweek? A Startup Expert Shows How AI Can Help
Artificial intelligence is overhauling how companies operate, freeing up entrepreneurs and their workers to skip the menial stuff and get down to business.