US Debt Ceiling Legislation Filed With House; Bill Would Authorize $886B For Security Spending In FY24, Authorize $703B In Non-Security Category For FY24
Portfolio Pulse from Benzinga Newsdesk
US debt ceiling legislation has been filed with the House, which would authorize $886 billion for security spending in FY24 and $703 billion in non-security category for FY24.
May 29, 2023 | 12:04 am
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NEUTRAL IMPACT
The US debt ceiling legislation may impact the overall market, including the SPY ETF, as it authorizes significant spending in security and non-security categories.
The debt ceiling legislation is important for the overall market as it sets the spending limits for the US government. The authorized amounts for security and non-security spending may have indirect effects on various sectors and companies, which could influence the SPY ETF. However, the short-term impact is uncertain as it depends on the market's reaction to the news and other factors.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50