Continuing Jobless Claims 1.833M Vs 1.828M Expected, 1.806M Expected
Portfolio Pulse from Benzinga Newsdesk
Continuing jobless claims came in at 1.833 million, slightly higher than the expected 1.828 million and above the previous 1.806 million. This indicates a small increase in the number of individuals who are unemployed and currently receiving unemployment benefits.
January 25, 2024 | 1:31 pm
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The higher-than-expected continuing jobless claims may cause concern among investors about the health of the labor market, potentially leading to a cautious outlook on the economy and impacting the SPDR S&P 500 ETF Trust (SPY).
The SPDR S&P 500 ETF Trust (SPY) is a broad measure of the US stock market and is sensitive to economic indicators. Higher jobless claims may signal a weakening economy, which can negatively affect market sentiment and thus SPY's performance in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70