The market snapped back Tuesday after Monday's Trump-triggered tumble. The S&P 500 (SPY) jumped 2%, and the Nasdaq (QQQ) climbed 2.3% at 10.56am as investors regrouped ahead of Tesla's earnings and shrugged off the latest round of political noise. Behind the bounce: thin trading volume, a steady dollar, and a slight rebound in Treasury yieldsenough to offer a breather after fears of Fed interference rattled sentiment. Goldman Sachs noted continued weakness in the greenback, while strategists pointed to a cautious, risk-off mood lurking beneath the surface.

Now comes the real test: Tesla (NASDAQ:TSLA) reports after the bell, and the bar couldn't be lower. The stock's already cratered 41% this year, with Elon Musk's political distractions slashing investor confidence and delivery numbers. Wedbush is calling it a code red moment. Morgan Stanley's Adam Jonas warned this could be Tesla's worst margin profile in 12 years, with sub-VW pricing, cash burn, and a CEO in need of a reset. Eyes are on whether Musk shifts focus back to fundamentalsor keeps chasing headlines. For investors, clarity on autonomy, margin defense, and near-term capital needs will shape how Tesla trades from here.

Elsewhere, earnings season was a mixed bag. Boeing (NYSE:BA) popped after selling parts of its digital unit to Thoma Bravo. Lockheed Martin (NYSE:NOC) beat on sales. But Verizon (NYSE:VZ) fell on subscriber losses, and RTX (NYSE:RTX) warned that Trump's tariffs could dent profits. Northrop Grumman cut its outlook amid cost overruns on its B-21 stealth bomber. Gold briefly surged past $3,500 before retreating, as speculation swirled over Fed leadership and broader U.S. asset fatigue. With recession or stagflation now base cases for many, investors are watching not just this quarter's numbersbut how companies are guiding through the tariff fog and policy chaos ahead.