Private Nonfarm Payrolls For Oct. 99K Vs 158K Expected, 263K Prior
Portfolio Pulse from Benzinga Newsdesk
The number of private nonfarm payrolls for October was reported at 99K, significantly lower than the expected 158K and the prior figure of 263K.
November 03, 2023 | 12:32 pm
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NEGATIVE IMPACT
The lower than expected private 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 the value of the ETF in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75