When there's market volatility, brokers and exchanges thrive.

And that's exactly what we're seeing right now.

Goldman Sachs $GS just reported their Q1 2025 results, and they were incredible.

Their equities segment grew to $4.19B, which is an astounding 27% year-over-year increase.

CEO David Solomon said in the conference call, "Clients are active and people are shifting positions." 

This is putting money in Goldman's pockets.

Let's talk about what else happened with Monday's earnings reactions.

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Goldman Sachs $GS had the best earnings reaction and reported a double beat with a muted reaction score of 0.09. 

The company reported revenues of $15.06B, versus the $14.77B estimate, and earnings per share of $14.12, versus the $12.32 estimate. 

M&T Bank $MTB had the worst earnings reaction and reported a double miss with a reaction score of -0.79. 

The company reported revenues of $2.31B, versus the $2.34B estimate, and earnings per share of $3.32, versus the $3.40 estimate....

Gold Miners are ripping in 2025 as Gold futures continue to print fresh all-time highs.

Here's how the year has played out so far:

• The S&P 500 is down 8%
• Bitcoin is down 9%
• Bonds are flat
• Silver is up 12%
• Gold is up 22%
• And Gold Miners are up 47%

There has been a tremendous amount of dispersion in the returns.

Despite precious metals' clear leadership role this year, the short sellers have piled into the Gold miners.

We just heard from some of the largest financial institutions in the world, like JPMorgan Chase & Co. $JPM, BlackRock $BLK, and Wells Fargo & Co. $WFC.

3 out of 5 reported double beats, and 2 reported mixed results.

The market rewarded 4 out of 5 for their reports, but 3 out of 5 had negative reaction scores.

Jamie Dimon, one of the most powerful and influential financiers in the world, said the following about the current macro environment:

"The economy is facing considerable turbulence, with the potential positives of tax reform and deregulation and the potential negatives of tariffs and 'trade wars,' ongoing sticky inflation, high fiscal deficits, and still rather high asset prices and volatility."

In other words, he's not bullish...

Let's talk about what else happened with these reports.

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Fastenal $FAST had the best earnings reaction and reported mixed results with a reaction...