U.S. House Earlier Passed Stopgap Measure To Avert Government Shutdown
Portfolio Pulse from Charles Gross
The U.S. House has passed a stopgap measure to prevent a government shutdown. This news may have implications for the SPY ETF, which tracks the S&P 500 and is often influenced by broad economic and political events.
September 30, 2023 | 7:50 pm
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POSITIVE IMPACT
The passing of the stopgap measure to prevent a government shutdown may have a stabilizing effect on the SPY ETF in the short term, as it removes a potential source of economic uncertainty.
The SPY ETF, which tracks the S&P 500, is often influenced by broad economic and political events. The passing of the stopgap measure removes the immediate threat of a government shutdown, which could have had a destabilizing effect on the economy and, by extension, the SPY ETF. Therefore, this news may have a stabilizing effect on the SPY ETF in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75