Weekly Jobless Claims Rise To 2024 High: Is The Number Signal Or Noise Ahead Of Friday's Jobs Report?
Portfolio Pulse from Hayden Buckfire
Weekly jobless claims rose to a 2024 high of 249,000, surpassing expectations. This has led to mixed reactions from economists and heightened interest in the upcoming jobs report. The S&P 500 and Nasdaq Indexes remained stable, while the iShares 20+ Year Treasury Bond ETF (TLT) saw a 1.27% increase.
August 01, 2024 | 3:15 pm
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The iShares 20+ Year Treasury Bond ETF (TLT) increased by 1.27% following the release of higher-than-expected jobless claims.
The rise in jobless claims has led to increased interest in safer assets like long-term Treasury bonds, benefiting TLT.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80