USA Initial Jobless Claims 242K Vs 225K Est.; 229K Prior
Portfolio Pulse from Benzinga Newsdesk
The USA reported initial jobless claims of 242,000, higher than the estimated 225,000 and the previous 229,000. This indicates a potential slowdown in the labor market.
June 13, 2024 | 12:30 pm
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NEGATIVE IMPACT
The higher-than-expected initial jobless claims suggest a potential slowdown in the labor market, which could impact overall market sentiment and the performance of SPY.
The increase in jobless claims above estimates and the previous figure suggests a weakening labor market, which could negatively impact investor sentiment and lead to a short-term decline in SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80