McCarthy's Ouster Amplifies Congressional Tensions, Goldman Sachs Anticipates Q4 Shutdown
Portfolio Pulse from Piero Cingari
The House of Representatives has voted to remove Kevin McCarthy as Speaker, with Rep. Patrick McHenry assuming the interim position. Goldman Sachs predicts a Q4 government shutdown due to unresolved policy disputes and a $120 billion gap in preferred spending levels. This political uncertainty could impact financial markets and economic stability. The defense and renewable energy sectors, including Lockheed Martin Corp., Boeing Co., and ETFs like iShares U.S. Aerospace & Defense ETF, Invesco Solar ETF, and Invesco WilderHill Clean Energy ETF, are particularly susceptible.
October 04, 2023 | 1:49 pm
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NEGATIVE IMPACT
Boeing Co. could be negatively impacted by a potential government shutdown due to its involvement in the defense sector.
As a major player in the defense sector, Boeing could be negatively impacted by a government shutdown, potentially leading to a decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Goldman Sachs predicts a Q4 government shutdown, which could impact its market predictions and financial services.
The political uncertainty and potential government shutdown could impact Goldman Sachs' market predictions and financial services, potentially leading to a decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The iShares U.S. Aerospace & Defense ETF could be negatively impacted by a potential government shutdown due to its holdings in the defense sector.
The iShares U.S. Aerospace & Defense ETF, which holds stocks in the defense sector, could be negatively impacted by a government shutdown, potentially leading to a decrease in its value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Lockheed Martin Corp. could be negatively impacted by a potential government shutdown due to its involvement in the defense sector.
As a major player in the defense sector, Lockheed Martin could be negatively impacted by a government shutdown, potentially leading to a decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
The Invesco WilderHill Clean Energy ETF could be negatively impacted by a potential government shutdown due to its holdings in the renewable energy sector.
The Invesco WilderHill Clean Energy ETF, which holds stocks in the renewable energy sector, could be negatively impacted by a government shutdown, potentially leading to a decrease in its value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
The Invesco Solar ETF could be negatively impacted by a potential government shutdown due to its holdings in the renewable energy sector.
The Invesco Solar ETF, which holds stocks in the renewable energy sector, could be negatively impacted by a government shutdown, potentially leading to a decrease in its value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70