Unit Labor Costs (QoQ) (Q1) +4% vs +4.7% Est.
Portfolio Pulse from Benzinga Newsdesk
Unit Labor Costs for Q1 increased by 4%, which is lower than the estimated 4.7%.
June 06, 2024 | 12:30 pm
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POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience a slight positive impact as the lower-than-expected increase in Unit Labor Costs could ease inflation concerns.
Lower-than-expected labor cost increases can be seen as a positive sign for inflation control, which may boost investor sentiment towards the broader market represented by SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50