U.S. Senate Passes Debt Ceiling Bill, Sending To President Biden's Desk For Signature Into Law
Portfolio Pulse from Happy Mohamed
The U.S. Senate has passed the debt ceiling bill, which will now be sent to President Biden for signature into law. This move will prevent a potential default on U.S. debt.
June 02, 2023 | 2:54 am
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POSITIVE IMPACT
The passage of the debt ceiling bill by the U.S. Senate may have a positive short-term impact on the SPY ETF as it reduces uncertainty in the market.
The passage of the debt ceiling bill reduces the risk of a U.S. default, which could have led to significant market turmoil. This reduction in uncertainty may lead to a positive short-term impact on the SPY ETF, as it represents the broader U.S. market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 75