Challenger Job Cuts (May) 80.089K vs 66.995K Prior
Portfolio Pulse from Benzinga Newsdesk
Challenger Job Cuts for May increased to 80,089, up from 66,995 in April, indicating a rise in job losses.
June 01, 2023 | 11:32 am
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NEGATIVE IMPACT
The rise in Challenger Job Cuts for May may negatively impact the overall market sentiment, potentially affecting the SPY ETF.
The rise in job cuts indicates a weakening labor market, which may lead to reduced consumer spending and slower economic growth. This could negatively impact the overall market sentiment, potentially affecting the performance of the SPY ETF, which tracks the S&P 500 index.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50