USA Nonfarm Payrolls For October 150K Vs 180K Est.; 297K Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Nonfarm Payrolls for October came in at 150K, lower than the estimated 180K and significantly below the prior figure of 297K.
November 03, 2023 | 12:30 pm
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NEGATIVE IMPACT
The lower than expected Nonfarm Payrolls could negatively impact the SPY ETF, as it suggests a slowing economy.
The SPY ETF tracks the S&P 500, which is sensitive to economic indicators such as the Nonfarm Payrolls. A lower than expected figure suggests a slowing economy, which could lead to a decrease in stock prices and therefore negatively impact the SPY ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80