ADP Nonfarm Employment Change For October 113K Vs 150K Est.; 89K Prior
Portfolio Pulse from Benzinga Newsdesk
The ADP Nonfarm Employment Change for October was reported at 113K, which is lower than the estimated 150K and the prior figure of 89K.
November 01, 2023 | 12:15 pm
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NEGATIVE IMPACT
The lower than expected ADP Nonfarm Employment Change could potentially impact the SPY ETF, as it reflects the overall health of the US economy.
The ADP Nonfarm Employment Change is a key economic indicator that reflects the health of the US economy. A lower than expected figure suggests a slower pace of job creation, which could potentially lead to a negative sentiment in the market, impacting assets like the SPY ETF that track the overall market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75