The stock market has struggled with the beginning of the earnings season in the past week, despite many companies beating estimates, as valuations were already extended after a strong rally. Stocks are seeing larger moves up and down after earnings compared to recent years, as expectations were high. Even beating estimates isn't moving stocks, as guidance isn't exceeding lofty expectations. Big Tech earnings like Microsoft, Meta, and Alphabet reporting this week will be pivotal given their sizeable impact on the S&P 500.