'Steve Scalise Does Not Appear To Have Votes To Become Speaker As Gop Remains Divided' - CNBC
Portfolio Pulse from Benzinga Newsdesk
Rep. Steve Scalise does not appear to have the necessary votes to become the House speaker. Despite winning the GOP nomination, several Republican House members insist they will vote for Rep. Jim Jordan, who had Trump's backing. The House is currently in a state of paralysis, unable to move forward with major items of business until a speaker is elected.
October 12, 2023 | 5:18 pm
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NEUTRAL IMPACT
The ongoing uncertainty and division within the GOP regarding the election of the House speaker could potentially impact the broader market, represented by SPY.
Political uncertainty can often lead to market volatility. The ongoing division within the GOP and the delay in electing a House speaker could potentially impact legislative actions, which in turn could affect the broader market. However, the direct impact on SPY is uncertain at this point.
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