Doubleline Capital's Jeffrey Gundlach Says Powell Admitted There Is Something Artificial About Job Numbers; Says Present Data Supports Powell's Remark That Economy Isn't Showing Significant Stress
Portfolio Pulse from Benzinga Newsdesk
Jeffrey Gundlach from Doubleline Capital commented on a CNBC interview that Federal Reserve Chair Jerome Powell admitted there is something artificial about job numbers. Gundlach also noted that current data supports Powell's remark that the economy isn't showing significant stress.
September 18, 2024 | 7:29 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may be influenced by Jeffrey Gundlach's comments on the artificial nature of job numbers and the lack of significant economic stress, as these factors could impact market sentiment and expectations for Federal Reserve actions.
Gundlach's comments on job numbers and economic stress relate to broader economic conditions, which can influence SPY as it tracks the S&P 500. However, the impact is neutral as the comments do not indicate immediate changes in economic policy or conditions.
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