Ed Elson

That's how many four- and five-star generals have been fired by this administration, almost as many as the 150 years prior.

When asked for comment, Secretary Pete Hegseth said he's, quote, trying to be the shepherd.

We later reached out to Quentin Tarantino to find out what that meant.

Welcome to Profity Markets.

I'm Ed Elson.

It is April 22nd.

Let's check in on yesterday's market vitals.

The major indices declined as Iran talks stalled around market close.

Trump announced the ceasefire was extended indefinitely and the blockade would be maintained.

Brent crude rose and Treasury yields climbed as Federal Reserve Chair nominee Kevin Walsh testified before the Senate Banking Committee.

During the hearing, Walsh called for reforms at the Fed, suggesting he'd make changes to the agency's inflation models and communication style.

He also dodged questions about Lisa Cook and the Jerome Powell probe and declined to acknowledge that President Trump lost the 2020 election.

Still, regarding Fed independence, he said, quote, the president never asked me to predetermine, commit, fix, decide on any interest rate decision in any of our discussions, nor would I ever agree to do so.

Okay, what else is happening?

After 15 years as CEO of Apple, Tim Cook is officially stepping down.

During Cook's tenure, Apple's revenue almost quadrupled, and its market value increased by about $3.6 trillion.

On September 1st, Cook will be transitioning to the role of executive chairman, and he'll hand the CEO reins to John Ternes, Apple's head of hardware engineering.

Ternus has spent 25 years, half his life, at the company, overseeing the hardware behind every major Apple product.

The transition marks the start of a new era for Apple, with plenty of unanswered questions about what comes next.

So...