Fed's Barkin Says Most Hurricanes And Tropical Storms Don't Affect The Macroeconomy; Labor Market Shows People Cutting Back On Hiring But Not Firing; Data Indicates No Hiring, No Firing, And Future Trends Are Uncertain
Portfolio Pulse from Benzinga Newsdesk
Fed's Barkin stated that most hurricanes and tropical storms do not impact the macroeconomy. The labor market shows a trend of reduced hiring but not increased firing, indicating uncertainty in future trends.
August 08, 2024 | 7:13 pm
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Fed's Barkin's comments suggest that macroeconomic conditions remain stable despite natural disasters, but the labor market shows signs of reduced hiring without increased firing, indicating uncertainty.
The stability in macroeconomic conditions despite natural disasters is neutral for SPY. However, the labor market's reduced hiring and no increased firing indicate uncertainty, which could lead to cautious investor sentiment.
CONFIDENCE 80
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RELEVANCE 50