Third Consecutive Week Of Higher-Than-Expected Unemployment Claims: Is US Job Market Losing Steam?
Portfolio Pulse from Piero Cingari
The US job market shows signs of cooling as the Department of Labor reports a third consecutive week of higher-than-expected unemployment claims. The dollar index remains steady, while S&P 500 futures contracts trend down.
June 22, 2023 | 1:08 pm
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The Invesco DB USD Index Bullish Fund ETF (UUP) held steady following the release of higher-than-expected unemployment claims data.
The higher-than-expected unemployment claims data indicates a cooling job market, which could impact the US dollar. However, the Invesco DB USD Index Bullish Fund ETF (UUP) held steady, suggesting that the market has not reacted negatively to the news. The ETF's performance may remain neutral in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80