U.S. House Speaker McCarthy Says He Has A Plan To Avoid A Shutdown
Portfolio Pulse from Benzinga Newsdesk
U.S. House Speaker McCarthy has announced a plan to avoid a government shutdown, according to Bloomberg. The specifics of the plan were not detailed in the article.
September 12, 2023 | 6:00 pm
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POSITIVE IMPACT
The announcement of a plan to avoid a government shutdown could stabilize the market, potentially having a neutral to positive impact on SPY in the short term.
Government shutdowns often lead to market instability. The announcement of a plan to avoid such a situation could stabilize the market, which could have a neutral to positive impact on SPY, an ETF that tracks the S&P 500 and is a good indicator of the overall U.S. stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50