Initial Jobless Claims 248K vs 245K Est.
Portfolio Pulse from Benzinga Newsdesk
The initial jobless claims for the week were reported at 248K, slightly higher than the estimated 245K.
July 06, 2023 | 12:30 pm
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NEGATIVE IMPACT
The higher than expected jobless claims could potentially impact the SPY ETF, as it reflects the overall health of the US economy.
The SPY ETF tracks the S&P 500, which is a broad representation of the US stock market and overall economy. Higher than expected jobless claims indicate potential weakness in the economy, which could negatively impact the performance of the SPY ETF in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75