Palantir Technologies’ latest quarterly earnings further cemented the software company’s status as a winner from the artificial intelligence boom. The issue is whether even that can justify the stock’s astronomical valuation.

Palantir spiked as much as 20% after reporting record profit and signaling high demand for its artificial-intelligence software. It was the best-performing stock in the S&P 500 by a considerable margin, and the results helped lift other AI-related tech ...

Wall Street pointed toward gains early Tuesday as investors awaited the outcome of the U.S. presidential election and other potentially market-rattling events this week. Futures for the S&P 500 and the Dow Jones Industrial Average each rose 0.