Key Takeaways

• U.S. equities rallied Tuesday following Monday's big sell-off amid worries about the U.S. economy.

• Kenvue shares jumped after the company reported better-than-expected results on strong sales of its unit that produces brands including Band-Aid and Listerine.

• Palantir Technologies shares surged after the company reported record earnings and lifted its full-year guidance on growing demand for its artificial intelligence platform.

U.S. equities rallied in intraday trading Tuesday, as investors piled back into stocks after worries about the U.S. economy sent markets reeling following last week’s jobs report. The S&P 500, Nasdaq , and Dow were all up over 1%.

Kenvue (KVUE) was the best-performing stock in the S&P 500 after the consumer health care products company posted better-than-expected results on strong sales of its unit that produces brands including Band-Aid and Listerine.

Shares of Uber (UBER) also jumped after the company's second-quarter profits more than doubled year-over-year, as gross bookings and revenue surpassed analysts' expectations.

Fox Corporation (FOXA) shares gained after the media company’s profit beat forecasts on higher affiliate fees and growth of its Tubi free TV and movie streaming service.

Palantir Technologies (PLTR) shares surged after the company reported record earnings and lifted its full-year guidance on growing demand for its artificial intelligence platform.

Shares of Lumen Technologies (LUMN) soared as the telecom provider said it got $5 billion in new business because of booming demand for artificial intelligence (AI) connectivity products.

Vulcan Materials (VMC) shares declined as the maker of construction aggregates missed earnings and revenue estimates and cut its outlook as the soft housing market hurt demand.

Oil futures rose and gold prices dropped. The yield on the 10-year Treasury note advanced. The U.S. dollar gained on the euro, pound, and yen. As with equities, most major cryptocurrencies rallied after plunging yesterday.

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