Are More Americans Looking For A Job? Here's What The Next Employment Report Might Show
Portfolio Pulse from Piero Cingari
The upcoming U.S. employment report for May is expected to show a slight increase in nonfarm payrolls and steady unemployment rates. Recent data indicates a slowdown in job growth, with private firms creating fewer jobs than expected. Bank of America predicts a 'healthy' jobs report, which could positively impact the S&P 500 ETF (SPY) if employment growth remains balanced.
June 05, 2024 | 4:50 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) could see a positive impact if the May employment report shows balanced job growth, as predicted by Bank of America. A 'healthy' jobs report within the goldilocks range of 125,000-175,000 new jobs is expected to boost the ETF.
Bank of America expects a 'healthy' jobs report with nonfarm payrolls rising by 200,000. If the employment growth falls within the goldilocks range of 125,000-175,000, it will be positive for SPY. The ETF is likely to rally if the report meets these expectations.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80