USA Continuing Jobless Claims 1,865K Vs 1,888K Est.; 1,866K Prior
Portfolio Pulse from Benzinga Newsdesk
USA Continuing Jobless Claims came in at 1,865K, slightly below the estimate of 1,888K and the prior figure of 1,866K, indicating a stable labor market.
December 21, 2023 | 1:31 pm
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POSITIVE IMPACT
The SPY ETF, which tracks the S&P 500, may see a neutral to slightly positive impact as the jobless claims data suggests a stable labor market, which is generally good for equities.
Continuing jobless claims that are lower than expected suggest fewer people are unemployed than anticipated, which can be a positive sign for the economy and may lead to increased consumer spending and corporate earnings. This can have a positive effect on the stock market, and consequently on ETFs like SPY that track the market. However, the change is very slight compared to the previous data, so the impact may not be significant in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70