FOMC May Have Achieved A Soft Landing
In his podcast addressing the markets today, Louis Navellier offered the following commentary. Hindering AlgosAn interesting development is that low market volatility is now apparently hindering algorithmic trading firms. Specifically, Virtu on Wednesday announced a 23% drop in net trading income in the second quarter, so its earnings declined 49.3% to 37 cents per share, down from 73 cents per share in the same quarter a year ago. Citadel Securities, which is a private company, announced that trading revenues declined by 29% in the second quarter according to the Financial Times. Both Citadel...