CORRECTION: Tuesday Benzinga Headline "U.S. President Biden Says Depleting Strategic Petroleum Reserve Is On Table", Credited To The Wall Street Journal Was Not From That Publication And Did Not Originate From President Biden
Portfolio Pulse from Charles Gross
A recent headline from Benzinga stating that U.S. President Biden is considering depleting the Strategic Petroleum Reserve was incorrectly attributed to The Wall Street Journal and did not originate from President Biden.
September 20, 2023 | 11:26 am
News sentiment analysis
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NEUTRAL IMPACT
The incorrect news about the potential depletion of the Strategic Petroleum Reserve could have caused uncertainty in the market, potentially affecting SPY.
While the news was incorrect, it could have caused some market volatility due to the potential impact on oil prices. As SPY is a broad market ETF, it could have been affected by this volatility.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The incorrect news about the potential depletion of the Strategic Petroleum Reserve could have directly impacted USO, an ETF that tracks the price of oil.
The news, although incorrect, could have caused a fluctuation in oil prices, which would directly impact USO as it tracks the price of oil.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 75