Average Hourly Earnings Month Over Month (Oct) +0.4% vs +0.3% Est.
Portfolio Pulse from Benzinga Newsdesk
The Average Hourly Earnings for October increased by 0.4%, surpassing the estimated 0.3%. This indicates stronger wage growth than expected, which could influence inflation and monetary policy decisions.
November 01, 2024 | 12:32 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility due to the stronger-than-expected wage growth, as it could influence inflation expectations and monetary policy decisions.
The SPY ETF, which tracks the S&P 500, could be affected by macroeconomic indicators like wage growth. The higher-than-expected increase in wages may lead to concerns about inflation, which could influence the Federal Reserve's monetary policy. This, in turn, could cause fluctuations in the stock market, impacting SPY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50