USA Initial Jobless Claims 219K Vs 230K Est.; 231K Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on initial jobless claims in the USA shows a decrease to 219,000, which is below the estimated 230,000 and the previous figure of 231,000. This indicates a stronger labor market than expected.
September 19, 2024 | 12:30 pm
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The SPDR S&P 500 ETF (SPY) may see a positive impact as the lower-than-expected jobless claims suggest a stronger labor market, which could boost investor confidence in the economy.
The decrease in jobless claims suggests economic strength, which is generally positive for the stock market. SPY, as an ETF tracking the S&P 500, could benefit from increased investor confidence.
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