US stock markets surge as S&P 500 climbs 2.3%, Dow up 1.8%, and Nasdaq gains 2.9%; S&P 500 records its best day since 2022 following positive labor market data | US weekly jobless claims drop to 233,000 for the week ending Aug. 3, the largest decline in 11 months and below expectations.

Palantir shares jump 11% after announcing a partnership with Microsoft to provide secure cloud, analytics, and AI services to US defense and intelligence agencies. Bumble shares hit an all-time low during intraday trading after lowering its annual revenue forecast.

US mortgage rates fall to a 15-month low, with the average 30-year fixed-rate mortgage at 6.47%; total application volume increases by 1% week-over-week.