Elimination of the Pattern Day Trader rule ignited a wave of day-trading activity on Robinhood, sending HOOD up 15%, while Kraken’s $200 M injection at a sharply reduced valuation highlights constrained liquidity in crypto markets. Political interference previously forced massive selling in Turkey’s FX market, driving the lira down over 40%.

Revenue rose 10% to $49.8 billion as net income hit $16.5 billion with a 13% profit gain driven by disciplined cost control and steady loan growth. Robust trading fueled roughly $40 billion in Q1 profits for US banks, and Goldman Sachs delivered $17.55 EPS, well above estimates.

Kevin Warsh’s nomination to succeed Powell as Fed chair is bottlenecked by Senate Banking Committee scheduling and GOP dissent—Sen. Tillis and Sen. Warren are blocking a vote until a Justice Department probe into the Fed’s $2.5 billion headquarters renovation concludes—while judicial rulings have fenced in DOJ subpoenas and the Supreme Court considers presidential removal powers. President Trump is testing executive authority by threatening to fire Jerome Powell post-term. In parallel, Iran has again closed the Strait of Hormuz, heightening global energy-security risks, and Utah regulators have approved AI-driven prescription renewals.

Disclosures of Kevin Warsh’s unusually large personal wealth have dominated sentiment, feeding skepticism about Fed leadership under Trump and fueling mixed expectations on whether policymakers will cut rates soon or hold steady amid political pressure.