USA Initial Jobless Claims 198K Vs 212K Est.; 211K Prior
Portfolio Pulse from Benzinga Newsdesk
The initial jobless claims in the USA have come in at 198K, which is lower than the estimated 212K and the prior figure of 211K.
October 19, 2023 | 12:30 pm
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POSITIVE IMPACT
The lower than expected jobless claims could potentially boost investor confidence, which may have a positive impact on the SPDR S&P 500 ETF (SPY).
Jobless claims are a key indicator of economic health. Lower than expected figures suggest a stronger labor market, which can boost investor confidence and potentially lead to an increase in stock prices. As SPY is a broad market ETF, it is likely to be positively impacted by this news.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75