'The Pentagon Warns Congress It Is Running Low On Money To Replace Weapons Sent To Ukraine' - AP News
Portfolio Pulse from Benzinga Newsdesk
The Pentagon has warned Congress that it is running low on funds to replace weapons sent to Ukraine, and has already had to slow down resupplying some troops. The Pentagon Comptroller, Michael McCord, stated that there is $1.6 billion left of the $25.9 billion provided by Congress to replenish U.S. military stocks sent to Ukraine. The U.S. also has about $5.4 billion left to provide weapons and equipment from its stockpiles. McCord warned that without additional funding, the U.S. will have to delay or curtail air defense weapons, ammunition, drones, and other equipment.
October 02, 2023 | 4:29 pm
News sentiment analysis
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NEGATIVE IMPACT
The news may have a negative impact on VGK as it tracks European stocks and increased geopolitical tensions in Ukraine could negatively affect European markets.
VGK tracks European stocks and increased geopolitical tensions in Ukraine could negatively affect European markets. Investors may become more risk-averse, leading to potential sell-offs in European stocks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEUTRAL IMPACT
The news may have a neutral impact on SPY as it tracks a broad market index and is not directly linked to defense spending or geopolitical issues.
SPY is a broad market ETF and its performance is not directly linked to defense spending or geopolitical issues. However, prolonged geopolitical tensions can impact overall market sentiment.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50