USA Continuing Jobless Claims 1,898K Vs 1,840K Est.; 1,828K Prior
Portfolio Pulse from Benzinga Newsdesk
USA Continuing Jobless Claims reported at 1,898K, exceeding the estimate of 1,840K and the previous figure of 1,828K.
February 01, 2024 | 1:31 pm
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The increase in continuing jobless claims may lead to concerns about the labor market's strength, potentially impacting investor sentiment towards the SPY ETF.
The SPY ETF, which tracks the S&P 500, is sensitive to economic indicators such as jobless claims. Higher than expected jobless claims can be perceived as a negative signal for the labor market and the overall economy, potentially leading to decreased investor confidence in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75