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Selloff? What Selloff? Monday Market Rebound

Market Overview - Markets experienced a strong rebound, with the Dow gaining +585 points (+1.34%), S&P 500 up +91 points (+1.47%), Nasdaq increasing +403 points (+1.95%), and Russell 2000 rising +44 points (+2.05%) [1] Bond Market - Bond yields remained steady, with the 10-year yield at +4.20% and the 2-year yield at +3.69%, indicating a potential need for interest rate reductions [2] Economic Indicators - Factory Orders for June reported a decline of -4.8%, which was better than expected, following a record high increase of +8.3% in the previous month [3] Company Earnings - Palantir Technologies reported Q2 earnings of 16 cents per share, beating expectations, with revenues reaching $1.0 billion, surpassing the anticipated $938.3 million, marking a +68% growth in the U.S. market, +93% in commercial, and +53% in government sectors [4] - Palantir's revenue guidance for the next quarter is set at a low-end of $1.083 billion and $4.14 billion for the full year, exceeding previous estimates [5] - Hims & Hers Health reported earnings of 17 cents per share, missing consensus estimates, with revenues of $545 million falling short of the expected $553.2 million, leading to a -12% drop in after-market trading [6] - Vertex Pharmaceuticals saw a significant decline of -13.5% despite beating earnings estimates, due to the failure of a pain drug in Phase 2 testing and the resignation of CSO David Altshuler [7] Upcoming Earnings Reports - Anticipation builds for Q2 earnings reports from major companies including Caterpillar, McDonald's, Pfizer, and Amgen, with AMD and Rivian reporting after the market closes [8] Trade Deficit and Economic Data - The U.S. Trade Deficit is expected to improve to -$61.0 billion from -$75.5 billion, with S&P and ISM Services PMI expected to remain above the growth threshold of 50 [9]