US stocks retreated on Tuesday as investors digested the latest wave of corporate earnings, economic data, and various tariff updates. Palantir (PLTR) stock jumped roughly 7% after the company's earnings report beat expectations and revealed its revenue had topped $1 billion in a quarter for the first time.

With more than half of second quarter earnings reported and stocks near record highs, company results have reassured investors about the artificial intelligence trade that has energized Wall Street, even if tariff worries curtailed buying.

Wall Street was on track to open with gains on Monday following Friday's sell-off that was triggered by fears of a slowing economy after the government released some grim data on U.S. job growth. Futures for the S&P 500 and the Dow Jones Industrial Average both rose 0.