Patrick Harker

Major U.S. indices are little-changed in Tuesday's midday trading as investors monitor recent geopolitical developments and anticipate the release of the latest FOMC minutes on Wednesday. U.S. and Russian officials met in Saudi Arabia Tuesday to begin peace negotiations, marking their first high-...

The market mood appears to have soured as the index futures slid early Friday, which is expected to be volatile due to the triple witching phenomena. There could be a lack of incentive to buy for want of any major Main Street catalysts, as some economists have begun flashing the danger of a hard...

Members of the Federal Reserve are hinting at a potential shift towards lowering interest rates, with Boston Fed President Susan Collins and Philadelphia Fed President Patrick Harker both indicating that the central bank might begin easing rates as soon as September. Their comments came just...

U.S. stocks are on track for a modestly higher start on Thursday, with the S&P 500 looking to extend the winning streak to six sessions. The ultimate trading direction of the day could hinge on a slew of key data, due for the day, pertaining to the job market, consumer spending and...

In a recent statement, Patrick Harker, the President of the Federal Reserve Bank of Philadelphia, suggested that one interest-rate cut in 2024 would be appropriate, based on the current economic forecast. This announcement reinforces the likelihood of sustained high interest rates. What Happened:...

U.S. stocks are gearing up for a cautious start following last week’s record run, with the index futures currently showing mixed sentiment. Tech stocks could extend the strength but it remains to be seen if that pervades into the broader market. Market strategists are upbeat about the...

Risk sentiment remains extremely fragile as the week draws to a close, with the threat of an escalation in the Middle East intensifying. All major stock indices are trading in negative territory as of 1 p.m. in New York, extending their weekly losses. Clashes persist between Israel and Hamas, while...

Thursday saw the U.S. stock market displaying mixed performance as 10-year Treasury yields approached the 5% threshold, only to recover in response to Federal Reserve Chair Jerome Powell‘s opening remarks prior to his Economic Club of New York address, prompting traders to scale back their...

Wall Street tumbled during midday trading, with all major stock indices in the red, and only the energy sector showing gains for the session, while 30-year Treasury yields breached the 5% mark, hitting the highest level in over 17 years. The recent developments in the Middle East have weighed on...

Risk sentiment held steady on Tuesday as corporations continued to report better-than-expected earnings. Johnson & Johnson (NYSE:JNJ), Bank of America Corp. (NYSE:BAC), Goldman Sachs Group Inc. (NYSE:GS), and Lockheed Martin Corp. (NYSE:LMT) all exceeded quarterly earnings expectations. An...

Wall Street started the week on a positive note, as all major U.S. indices and every sector within the S&P 500 showed gains during the morning session, alleviating the concerns that arose on Friday. Traders deduced from the better-than-expected Q3 earnings reports of major U.S. banks, that the...

Risk aversion intensified during Friday’s morning trading, with stocks taking a sharp downturn while gold and oil rallied in the wake of heightened tensions in the Middle East. Israel has ordered the evacuation of more than 1 million people from North Gaza to the southern part of the Gaza...

Following Federal Reserve Chair Jerome Powell’s opening remarks at the Jackson Hole Symposium, Patrick Harker, president of the Federal Reserve Bank of Philadelphia, offered his perspective. Harker’s message took a more dovish turn compared to the board chairman’s stance, which...

Federal Reserve Bank of Philadelphia President Patrick Harker talked about the state of the consumer and gave his read on the economy Thursday morning at the Jackson Hole Symposium.  What To Know: We are seeing strong GDP growth alongside declining inflation and low unemployment, but...

Stocks gave up some of their early morning gains by midday trading, despite investors having earlier cheered another lower-than-expected inflation print, as the market significantly priced in the likelihood of the Fed keeping rates unchanged next month. The consumer price index (CPI)...