Tariff considerations, then, are on the backburner for now. Investors can turn their attention to Magnificent Seven earnings and data on the U.S. economy coming out the next few days. If all goes well ...

Even though Microsoft has made huge steps towards European data sovereignty, it still can't promise the US won't peep.

India is seeking either an exemption or a longer timeline on the pharmaceutical tariffs, expected to kick in by July 31.