USA Continuing Jobless Claims 1,877K Vs 1,860K Est.; 1,844K Prior (Revised)
Portfolio Pulse from Benzinga Newsdesk
The USA's continuing jobless claims have risen to 1,877K, surpassing the estimated 1,860K and the prior revised figure of 1,844K.
August 01, 2024 | 12:30 pm
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NEGATIVE IMPACT
The increase in continuing jobless claims to 1,877K, higher than the estimated 1,860K and the prior revised figure of 1,844K, may indicate potential economic weakness, which could negatively impact the SPY ETF in the short term.
Higher-than-expected jobless claims suggest potential economic weakness, which could lead to a negative sentiment in the stock market, affecting broad market ETFs like SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80