Recent fluctuations in US stock markets have been largely driven by concerns over tariffs imposed by China in response to those from the Trump administration. The S&P 500 and Nasdaq experienced gains, with tech stocks like Palantir seeing significant surges after earnings reports. Despite the tariff concerns, many investors appeared unfazed, leading to mixed trading patterns. As traders digest both the implications of the tariffs and upcoming earnings from major companies like Alphabet, market sentiment remains cautiously optimistic. Overall, the markets are navigating through a volatile landscape marked by trade tensions and the potential for negotiations.