House Democratic Leader Jeffries On CNBC Said House Democrats Would Back Senate's Government Funding Bill To Avoid A Shutdown
Portfolio Pulse from Charles Gross
House Democratic Leader Jeffries announced on CNBC that House Democrats would support the Senate's government funding bill to prevent a government shutdown.
September 29, 2023 | 11:38 am
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POSITIVE IMPACT
The announcement by House Democratic Leader Jeffries may stabilize the market as it reduces the risk of a government shutdown.
The SPY ETF, which tracks the S&P 500, is likely to be positively impacted by this news. The risk of a government shutdown can create uncertainty in the market, which can negatively affect stock prices. By supporting the Senate's government funding bill, the House Democrats are reducing this risk, which may lead to a more stable market and potentially positive performance for the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50