Philly Fed Employment For July -1 Vs -4.5 Est.; -0.4 Prior
Portfolio Pulse from Happy Mohamed
The Philadelphia Federal Reserve's employment index for July came in at -1, compared to estimates of -4.5 and a prior figure of -0.4. This indicates a slight contraction in employment.
July 20, 2023 | 12:31 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The SPY ETF, which tracks the S&P 500, may be indirectly affected by the Philly Fed's employment index. The index's contraction could signal economic slowdown, potentially impacting the broader market.
The Philadelphia Federal Reserve's employment index is a key economic indicator. A contraction in the index could signal an economic slowdown, which could impact the broader market and thus the SPY ETF, which tracks the S&P 500.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50