Average Hourly Earnings (MoM) (Feb) +0.1% vs +0.2% Est.
Portfolio Pulse from Benzinga Newsdesk
The Average Hourly Earnings for February increased by 0.1%, which is below the estimated 0.2%.
March 08, 2024 | 1:31 pm
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NEUTRAL IMPACT
The lower-than-expected increase in Average Hourly Earnings may lead to mixed reactions in the SPY as it reflects slower wage growth.
The SPY, which tracks the S&P 500, is sensitive to economic indicators. A lower-than-expected wage growth suggests a slower economic pace, which can have mixed effects on the market. Investors might see it as a sign of controlled inflation, which is positive, but also as a sign of slowing economic growth, which can be negative.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70