ADP Nonfarm Employment Change (Jun) +150K vs +163K Est.
Portfolio Pulse from Benzinga Newsdesk
The ADP Nonfarm Employment Change for June reported an increase of 150,000 jobs, falling short of the estimated 163,000. This data could influence market sentiment and impact broad market indices.
July 03, 2024 | 12:15 pm
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The ADP Nonfarm Employment Change for June reported an increase of 150,000 jobs, which is below the estimated 163,000. This shortfall may lead to negative market sentiment, potentially impacting the SPDR S&P 500 ETF (SPY) in the short term.
The ADP Nonfarm Employment Change is a key economic indicator. A lower-than-expected job increase can signal economic slowdown, leading to negative market sentiment. As SPY tracks the S&P 500, it is likely to be impacted by this sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80