USA Initial Jobless Claims 218K Vs 210K Est.; 206K Prior
Portfolio Pulse from Benzinga Newsdesk
USA Initial Jobless Claims came in at 218,000, higher than the estimated 210,000 and the previous figure of 206,000. This indicates a slight increase in unemployment claims.
December 28, 2023 | 1:30 pm
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The SPDR S&P 500 ETF Trust (SPY) may experience short-term volatility due to higher-than-expected jobless claims, suggesting potential labor market weakness.
Initial jobless claims are a leading economic indicator, and higher figures can signal potential weakness in the labor market, which may affect investor sentiment and cause short-term volatility in the market. However, as the increase is minor, the impact on SPY may be limited and short-lived.
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IMPORTANCE 60
RELEVANCE 70