U.S. stock markets showed cautious movement today as investors weighed a mix of upcoming earnings results and simmering trade tensions. The Dow Jones Industrial Average, S&P 500, and Nasdaq all hovered in narrow ranges, reflecting uncertainty about the near-term outlook.

Attention is turning to a packed earnings calendar, with major companies such as Advanced Micro Devices, Pfizer, Snap, Rivian, and Yum Brands reporting. These results are expected to offer crucial insights into corporate health and sector-specific trends, particularly as markets grapple with high valuations following robust gains over the past year.

Geopolitical developments further complicated the trading landscape. The U.S. administration signaled the possibility of increased tariffs on Indian imports due to ongoing concerns about India’s purchase of Russian oil. In response, India firmly stated its intention to defend its economic interests. Meanwhile, investors are closely watching the status of the U.S.–China trade truce, which is set to expire soon. A failure to renew the agreement could result in a dramatic hike in tariffs, raising fresh concerns for global trade and growth.

Beyond the headline indexes, company-specific news drove notable moves in market sentiment. Palantir Technologies surged after it raised its annual revenue outlook, reflecting strong demand for its artificial intelligence-driven software. In contrast, Hims & Hers Health plunged double digits following disappointing revenues and a decrease in subscribers for its weight-loss drug services. Inspire Medical Systems also saw a steep decline after underwhelming quarterly results.

As Wall Street digests the latest earnings and evaluates shifting trade policies, volatility may persist. Investors remain alert to incoming data, including economic indicators like the Purchasing Managers’ Index, as they try to gauge the resilience of the U.S. economy amidst these crosscurrents.