Fed's Waller Says Hurricanes, Boeing Strike May Reduce Oct Payrolls Growth By 100,000; Looking Ahead, Expect Payroll Gains To Moderate, Unemployment Rate To Drift Higher But Stay Historically Low; Watching Inflation Data To See How Persistent Recent Uptick Is; Progress On Inflation Has Been 'Rollercoaster'
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Waller indicates that October payroll growth may be reduced by 100,000 due to hurricanes and a Boeing strike. He expects payroll gains to moderate and unemployment to rise slightly but remain low. Inflation data is being closely monitored for persistence.
October 14, 2024 | 7:05 pm
News sentiment analysis
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NEGATIVE IMPACT
Boeing's strike is expected to contribute to a reduction in October payroll growth by 100,000 jobs, indicating potential operational disruptions.
The strike at Boeing is directly mentioned as a factor reducing payroll growth, suggesting operational challenges that could negatively impact Boeing's short-term stock performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The broader market, represented by SPY, may experience volatility due to expected moderation in payroll gains and a slight rise in unemployment.
SPY, as a market index, could be affected by macroeconomic factors such as changes in payroll and unemployment rates, but the impact is less direct compared to individual companies like Boeing.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50