USA Initial Jobless Claims 210K Vs 208K Est.; 200K Prior
Portfolio Pulse from Benzinga Newsdesk
The initial jobless claims in the USA came in at 210K, slightly above the estimated 208K and higher than the previous figure of 200K.
October 26, 2023 | 12:32 pm
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NEGATIVE IMPACT
The higher than expected jobless claims could potentially impact the SPY ETF, as it reflects the overall performance 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 a potential slowdown in the economy, which could negatively impact the performance of the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75