USA Initial Jobless Claims 243K Vs 229K Est.; 223K Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on initial jobless claims in the USA shows an increase to 243,000, higher than the estimated 229,000 and the previous 223,000. This could indicate a weakening labor market.
July 18, 2024 | 12:30 pm
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The increase in initial jobless claims to 243,000, higher than the estimated 229,000 and the previous 223,000, could signal a weakening labor market. This may negatively impact the SPY ETF in the short term as investors react to potential economic slowdown.
The higher-than-expected jobless claims suggest a weakening labor market, which could lead to concerns about economic growth. This may result in short-term negative sentiment for SPY as investors adjust their expectations.
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