Fed Rate Cuts Give Higher Probability of the Great Rotation Occurring

Published on September 5, 2024

Despite pullbacks and elevated volatility in the earlier days of the month, major equity indices were up in August.

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Jane Street and Citadel Won’t Devour All of Wall Street’s Revenue

September 5, 2024
Jane Street Group LLC and Citadel Securities are on a tear. First-half revenue at the two predominantly electronic market makers grew about 80% compared with the first six months of 2023, according to Bloomberg News. That’s enough to make traditional Wall Street executives green with envy — but these upstarts aren’t going to completely devour the old guards’ lunch.

American Drivers Signal a Top in Gasoline Demand

September 5, 2024
Labor Day weekend, marking the end of the US summer driving season, is typically the year’s last hurrah for gasoline producers. This year, the high-fives were reserved for drivers (and White House occupants): The average pre-long weekend pump price was down 13% from last year after gasoline refining margins collapsed in August. Pump prices have eased further this week.