USA Initial Jobless Claims 227K Vs 243K Est.; 242K Prior
Portfolio Pulse from Benzinga Newsdesk
The latest report on initial jobless claims in the USA shows a decrease to 227,000, which is below the estimated 243,000 and the previous figure of 242,000. This indicates a stronger labor market than expected.
October 24, 2024 | 12:30 pm
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The decrease in initial jobless claims to 227K, below expectations, suggests a stronger labor market, which could positively impact the SPY ETF as it reflects overall economic health.
A decrease in jobless claims suggests economic strength, which can lead to positive investor sentiment and potentially boost the SPY ETF, as it tracks the S&P 500 index, a broad measure of the US economy.
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