USA Initial Jobless Claims 218K Vs 224K Est.; 222K Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on initial jobless claims in the USA shows a decrease to 218,000, which is below the estimated 224,000 and the previous 222,000. This indicates a stronger labor market than expected.
September 26, 2024 | 12:30 pm
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The decrease in initial jobless claims to 218K, below estimates, suggests a stronger labor market, which could positively impact the SPY ETF as it reflects overall economic health.
The SPY ETF, which tracks the S&P 500, is likely to be positively impacted by the stronger-than-expected labor market data. Lower jobless claims suggest economic strength, which can boost investor confidence and potentially lead to higher stock prices.
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