U.S. Treasury's Adeyemo Says Concerned About Developing Economies And Those In Asia And Europe That Are Reliant On Chinese Economy For Growth; U.S. Economic Momentum Being Driven By Investments In Infrastructure, Green Energy And Underserved Communities
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury's Adeyemo expressed concerns about developing economies and those in Asia and Europe that are reliant on the Chinese economy for growth. He also mentioned that U.S. economic momentum is being driven by investments in infrastructure, green energy, and underserved communities.
August 24, 2023 | 6:50 pm
News sentiment analysis
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NEGATIVE IMPACT
The iShares China Large-Cap ETF (FXI) could be impacted by the concerns raised about economies reliant on China for growth.
FXI tracks the performance of large-cap Chinese equities. Concerns about economies reliant on China for growth could lead to a decrease in the value of these equities, thereby negatively impacting FXI.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF (SPY) could benefit from the U.S. economic momentum being driven by investments in infrastructure, green energy, and underserved communities.
SPY tracks the performance of the S&P 500, which includes companies that could benefit from the mentioned investments. This could lead to an increase in the value of these equities, thereby positively impacting SPY.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 70