In A Letter To The U.S. Congress, President Biden Requested ~$40B In Supplemental Funding, Encompassing Allocations For Ukraine Aid, Disaster Relief, Efforts To Counteract China, And Combating The Fentanyl Crisis.
Portfolio Pulse from Charles Gross
President Biden has requested approximately $40 billion in supplemental funding from the U.S. Congress. The funds are intended for Ukraine aid, disaster relief, efforts to counteract China, and combating the Fentanyl crisis.
August 10, 2023 | 7:05 pm
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NEGATIVE IMPACT
The funding request to counteract China could potentially impact the iShares China Large-Cap ETF (FXI).
The funding request to counteract China could lead to increased tensions between the U.S. and China, potentially negatively impacting Chinese stocks and ETFs like FXI.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The supplemental funding request could potentially impact the SPDR S&P 500 ETF (SPY) due to its broad exposure to the U.S. market.
The funding request could lead to changes in the U.S. market, potentially impacting ETFs like SPY that have broad exposure to the U.S. market. However, the impact is uncertain and could be neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The funding request for Ukraine aid could potentially impact the Vanguard FTSE Europe ETF (VGK) due to its exposure to European markets.
The funding request for Ukraine aid could lead to increased stability in the region, potentially positively impacting European stocks and ETFs like VGK.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60