Continuing Jobless Claims 1.72M Vs 1.745M Expected; 1.742M Prior
Portfolio Pulse from Benzinga Newsdesk
The number of continuing jobless claims came in at 1.72 million, slightly below the expected 1.745 million and the prior figure of 1.742 million.
July 06, 2023 | 12:30 pm
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POSITIVE IMPACT
The lower than expected continuing jobless claims could be a positive signal for the overall economy, potentially impacting the SPY ETF positively.
Continuing jobless claims are a measure of the health of the labor market and, by extension, the overall economy. A lower than expected number could indicate a strengthening economy, which could lead to a rise in the SPY ETF, which tracks the S&P 500 and is a broad measure of the US stock market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70