Goldman Sachs Group Inc. (NYSE:GS) shares traded higher Wednesday after the firm reported second-quarter results that beat analyst expectations, boosted by robust gains in its global banking and trading divisions.

The New York Times said Trump waved a draft letter firing Powell at an Oval Office meeting late Tuesday. Trump had gathered a group of Republicans that had blocked a procedural vote that would have advanced crypto legislation, to convince them to let the legislation advance. Odds of Powell being fired surged to 40% on prediction market Kalshi.

Goldman Sachs posts record Q2 trading revenue, making Wall Street history as volatility fuels massive earnings surge.

Goldman Sachs beats Q2 estimates with $840M trading revenue surprise, driven by record equities performance and renewed investment banking momentum.

S&P 500 EPS growth is expected to come in at 4.8% for Q2, which would be the lowest growth rate since Q4 2023.