USA Initial Jobless Claims 219K Vs 218K Est.; 216K Prior
Portfolio Pulse from Benzinga Newsdesk
The USA's initial jobless claims have risen to 219,000, slightly above the estimated 218,000 and the previous week's 216,000. This indicates a marginal increase in unemployment claims, which could have implications for the broader market.
May 30, 2024 | 12:30 pm
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The slight increase in initial jobless claims to 219,000, above the estimated 218,000, may indicate a marginally weakening labor market. This could lead to short-term volatility in the SPY ETF, which tracks the S&P 500 index.
The increase in jobless claims suggests a marginally weakening labor market, which could lead to concerns about economic stability and impact the broader market. As SPY tracks the S&P 500, it may experience short-term volatility.
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