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.

Louis Gave sees the possibility that the hundreds of billions of dollars invested in artificial intelligence turns out to be a dud as the bigger risk for markets.