Markets are digesting several key developments this week. The Powell situation continues to draw attention regarding Federal Reserve independence—something equity traders tracking $SPY and $QQQ should keep an eye on. Meanwhile, precious metals are breaking new ground, with gold and silver ($GLD and $SLV) hitting fresh highs as investors reassess their portfolio hedges.

On the credit front, regulators are taking aim at card issuers with new rate cap discussions, pressuring players like $COF, $AXP, $V, and $MA. The retail space shows mixed signals—$UP and $LVLU are catching meme and China momentum, though this carries typical volatility risks. Finally, the Nasdaq 100 saw a notable reshuffle with $WMT replacing $AZN, reflecting shifting sector weights in mega-cap indices.