Nonfarm Productivity (QoQ) (Q2) +2.3% vs +1.7% Est.
Portfolio Pulse from Benzinga Newsdesk
Nonfarm productivity for Q2 increased by 2.3%, surpassing the estimated 1.7%.
August 01, 2024 | 12:30 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) is likely to see a positive impact as nonfarm productivity for Q2 increased by 2.3%, surpassing the estimated 1.7%. This indicates a stronger economic performance.
Higher-than-expected productivity growth suggests a stronger economy, which is generally positive for the stock market. As SPY tracks the S&P 500, it is likely to benefit from this news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80