USA Average Hourly Earnings (MoM) For June 0.4% Vs 0.3% Est.; 0.4% Prior
Portfolio Pulse from Happy Mohamed
The USA Average Hourly Earnings for June increased by 0.4%, beating the estimated 0.3% and matching the prior figure of 0.4%.
July 07, 2023 | 12:31 pm
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POSITIVE IMPACT
The increase in average hourly earnings could indicate a strengthening economy, which may positively impact the SPY ETF.
Higher average hourly earnings suggest increased consumer spending power, which can stimulate economic growth. As SPY ETF tracks the S&P 500, a stronger economy generally leads to higher stock prices, potentially boosting the value of SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75