U.S. Commerce Secretary Raimondo Says She Hopes To Make Some Chips Funding Announcements This Fall; Raimondo Says Commerce Department Needs New Enforcement Funding, Backs Legislation To Address Concerns Raised By Foreign Apps Posing Security Concerns
Portfolio Pulse from Benzinga Newsdesk
U.S. Commerce Secretary Gina Raimondo has announced that she hopes to make some funding announcements related to chips this fall. She also stated that the Commerce Department needs new enforcement funding and supports legislation to address security concerns raised by foreign apps.
October 04, 2023 | 7:30 pm
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NEGATIVE IMPACT
The U.S. Commerce Secretary's support for legislation addressing security concerns raised by foreign apps could potentially impact Chinese companies listed under the FXI ETF.
The U.S. Commerce Secretary's support for legislation addressing security concerns raised by foreign apps could potentially lead to stricter regulations for Chinese companies. This could negatively impact the performance of the FXI ETF, which includes a number of Chinese companies.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The U.S. Commerce Secretary's announcement about potential funding for chips could have a positive impact on tech companies listed under the SPY ETF.
The U.S. Commerce Secretary's announcement about potential funding for chips could lead to increased investment in tech companies. This could positively impact the performance of the SPY ETF, which includes a number of tech companies.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70