Nonfarm Payrolls (Jul) 114K vs 176K Est.
Portfolio Pulse from Benzinga Newsdesk
The Nonfarm Payrolls report for July showed an increase of 114,000 jobs, significantly below the estimated 176,000. This shortfall may indicate a slowing economy and could impact market sentiment.
August 02, 2024 | 12:30 pm
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NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the lower-than-expected Nonfarm Payrolls report for July, which could signal economic slowing.
The SPY ETF, which tracks the S&P 500, is likely to be impacted by the disappointing Nonfarm Payrolls report. Lower job growth can signal economic weakness, leading to potential market volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80