House Speaker Kevin McCarthy Says 'We Don't Have A Deal; Decisions Have To Start Being Made'
Portfolio Pulse from Benzinga Newsdesk
House Speaker Kevin McCarthy stated that there is no deal yet on the debt ceiling and decisions need to be made, according to Bloomberg.
May 22, 2023 | 5:15 pm
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NEGATIVE IMPACT
Uncertainty around the debt ceiling deal may cause short-term volatility in the S&P 500 ETF (SPY).
The debt ceiling issue directly affects the US economy and government spending. If a deal is not reached, it could lead to a government shutdown or even a default on US debt, which would negatively impact the stock market and the S&P 500 ETF (SPY) in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75