Big tech earnings are all over the map right now and it's showing in the markets. Meta's crushing it with revenue way ahead of expectations, so it's up over 7%. IBM also beat the street on Q4 numbers. But Microsoft? Down more than 10% after cloud growth disappointed - that's the kind of miss that tanks a mega-cap.

Meanwhile, energy stocks are having a moment. Oil's up over 4% to a 4-month high after Trump's Iran comments, so energy producers are rallying hard across the board. Precious metals are going wild too - gold and silver hitting new records, copper at all-time highs. People are clearly rotating out of dollars into hard assets.

On the data side, jobless claims came in a bit softer than expected, but the trade deficit is wider than anticipated. That's adding to the uncertainty. With big tech earnings continuing this week and tariff threats still hanging over everything, the market's basically waiting to see what happens next. Lots of moving pieces, mixed signals from earnings - typical volatile week.