Why is Palantir stock climbing today?

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• ESAF Small Finance Bank posts Rs 160 crore Q2 profit as asset quality improves

  A sharp recovery in operational performance and lower provisioning requirements have significantly bolstered the lender's financial position this quarter. The improvement reflects substantial reductions in non-performing assets alongside strong margin expansion across its core operations. This sustained balance sheet turnaround positions the small finance bank for more resilient expansion across its lending and deposit franchises.

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• The Fed held off on a rate hike. Today’s GDP and inflation reports could make waiting harder.

  Upcoming economic data could challenge the central bank's recent choice to pause its monetary tightening campaign. If the latest metrics indicate persistent price pressures alongside robust economic growth, policymakers may face mounting pressure to abandon their wait-and-see stance. Consequently, these results could strengthen the justification for an interest rate increase at the December meeting.

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• Jio Platforms adds $36B in market value in two trading sessions, hitting a $144B market cap, up from its ~$108B IPO valuation, after India's biggest-ever IPO (Ashutosh Joshi/Bloomberg)

  Strong investor demand has fueled an immediate post-listing rally for the Indian telecom and digital giant. The company's equity expanded rapidly across consecutive market sessions following its milestone listing. This massive valuation increase reflects a blistering public market debut that significantly outpaces its original offering price.

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