'White House Announces $40B Funding To Boost Internet Connectivity Nationwide' - The Hill
Portfolio Pulse from Happy Mohamed
President Biden is set to announce $40 billion in funding to bring internet access to areas without connectivity across the US. The funding will mainly come from the Broadband Equity Access and Deployment (BEAD) Program, and the implementation process will take approximately 18 months.
June 26, 2023 | 1:36 pm
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POSITIVE IMPACT
The $40 billion funding announcement for nationwide internet connectivity may have a positive impact on the broader market, including SPY.
The funding announcement is expected to boost infrastructure and create jobs, which may have a positive impact on the overall economy and the broader market. As SPY is an ETF that tracks the S&P 500, it may benefit from this positive sentiment.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50