U.S. Senate Majority Leader Schumer Says He Supports Debt Limit Deal
Portfolio Pulse from Happy Mohamed
U.S. Senate Majority Leader Chuck Schumer announced his support for a debt limit deal, potentially averting a government default.
May 30, 2023 | 7:21 pm
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POSITIVE IMPACT
Schumer's support for the debt limit deal may ease concerns over a government default, potentially having a positive impact on the SPY ETF.
The debt limit deal, if passed, would prevent a government default, which could have negative consequences for the overall market. As SPY is an ETF that tracks the S&P 500, it is likely to be positively impacted by the reduced risk of a government default.
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IMPORTANCE 70
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