Private Nonfarm Payrolls For Oct. -28K Vs 90K Expected, 223K Prior
Portfolio Pulse from Benzinga Newsdesk
The private nonfarm payrolls for October decreased by 28,000, significantly missing the expected increase of 90,000 and down from the prior increase of 223,000.
November 01, 2024 | 12:31 pm
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The SPDR S&P 500 ETF (SPY) may experience short-term volatility due to the unexpected decline in private nonfarm payrolls, which could affect market sentiment and economic outlook.
The significant miss in payroll numbers suggests a weaker labor market, which could lead to concerns about economic growth. This may result in short-term negative sentiment in the stock market, affecting SPY.
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