'MCCARTHY just arrived back to the Capitol. He reiterated that he is not at all close to a deal with the White House on lifting the debt limit.' -Punchbowl Reporter
Portfolio Pulse from Benzinga Newsdesk
House Minority Leader Kevin McCarthy stated that he is not close to a deal with the White House on lifting the debt limit.
May 23, 2023 | 2:17 pm
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NEGATIVE IMPACT
Uncertainty around the debt limit deal may cause short-term volatility in the S&P 500 ETF (SPY).
The lack of progress in negotiations between McCarthy and the White House on lifting the debt limit increases uncertainty in the market. This uncertainty may lead to short-term volatility in the S&P 500 ETF (SPY) as investors react to the news.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50