USA Initial Jobless Claims 212K Vs 219K Est.; 220K Prior
Portfolio Pulse from Benzinga Newsdesk
USA initial jobless claims for the week came in at 212,000, lower than the estimated 219,000 and the previous week's 220,000. This indicates a stronger labor market than anticipated.
February 15, 2024 | 1:31 pm
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The lower-than-expected jobless claims suggest a robust labor market, potentially leading to increased consumer spending and economic growth, which could positively impact the SPY ETF.
Lower jobless claims are a positive indicator of economic health, suggesting fewer layoffs and potentially more consumer spending. As SPY tracks a broad range of US stocks, improvements in the labor market and economic outlook can lead to gains in the ETF.
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