The Philadelphia Semiconductor Index hit a six-month high, rising 2.3% in the day.
City of Philadelphia Commissioner Seth Bluestein said he believes the 2024 election cycle will count votes faster than in 2020. "We started pre-counting mail-in ballots as soon as polling stations opened at 7am this morning, and we will be counting ballots much faster than in 2020," Mr. Brustein said. "Many people have already gone to the polls to vote in person, so fewer mail-in ballots will need to be counted this year than in 2020. In addition, Philadelphia has purchased additional equipment ...
Federal Reserve Governor Bowman will speak in ten minutes at the eighth annual fintech conference hosted by the Philadelphia Fed.
The Philadelphia Semiconductor Index rose 1.1% to a two-month high.
Mr. Harker, president of the Philadelphia Fed, said the Fed had responded effectively to challenging economic conditions over the past few years. Mr. Harker made no forward-looking comments on monetary policy or the economic outlook. He described Fed policy as taking a broad view of the economy and letting incoming data set the policy path. "Over the last 30 months, I believe we have proven ourselves to be good movers of the economy," Mr. Harker said.
On September 9th, according to Cointelegraph, the Consumer Finance Institute (CFI) of the Philadelphia branch of the Federal Reserve released a report on September 6th showing that the cryptocurrency holding rate did not increase with the market recovery. The survey shows that from January to October 2022, the cryptocurrency holding rate fell from 24.6% to 19.1%. Although the market recovered in the following 18 months, the holding rate was only 15.4% in January 2024. Bitcoin also did not see si...
The Philadelphia chip index rose 3 percent, Micron Technology (MU. O) rose more than 4 percent, Qualcomm (QCOM. O) rose more than 3 percent, and ASML (ASML. O) rose nearly 3 percent.
The Philadelphia Semiconductor Index widened its decline to 8%.