Fed's Goolsbee Says 0.7% Increase In Unemployment Over A Year Is Usually A Warning Sign Of Recession; Directionally Unemployment Is Rising, But Level Is Still Low; Rise In Delinquencies Is Also A Warning Sign; GDP Growth, Consumer Spending, Wage Growth Has Been Strong; It's A Little Bit Of A 'Cautionary' Period
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Goolsbee highlights a 0.7% increase in unemployment as a potential recession indicator, despite strong GDP, consumer spending, and wage growth. Rising delinquencies also signal caution.
September 23, 2024 | 2:28 pm
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The SPDR S&P 500 ETF (SPY) may experience volatility due to mixed economic signals: rising unemployment and delinquencies suggest caution, while GDP and consumer spending remain strong.
SPY, representing the S&P 500, could see mixed reactions. Economic indicators like rising unemployment and delinquencies suggest caution, potentially impacting investor sentiment. However, strong GDP and consumer spending may offset negative impacts, leading to neutral short-term effects.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50