Congress In Chaos: House Is Set For Speaker Vote Tuesday, But GOP Candidate Jim Jordan Has A Long Way To Go
Portfolio Pulse from Natan Ponieman
The US House of Representatives is in a state of chaos following the removal of U.S. Rep. Kevin McCarthy from the speakership position. This has led to a halt in the House's activities, affecting several urgent bills. The only candidate put forward by the GOP for the speakership is U.S. Rep. Jim Jordan, who needs 217 votes to win. The turmoil in Congress could negatively impact high-risk stocks, while safer options like government bonds or defensive stocks from consumer staple companies could be favored. ETFs based on growth and innovation could be negatively affected.
October 16, 2023 | 8:44 pm
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NEGATIVE IMPACT
The Invesco QQQ Trust Series I (QQQ), which follows the Nasdaq-100 index, could be negatively impacted by the ongoing political instability.
In times of political instability, investors often shy away from high-risk assets like growth-based ETFs. As QQQ follows the Nasdaq-100 index, it could be negatively impacted.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
The Vanguard Growth Index Fund ETF (VUG) could be negatively affected by the current political instability as investors may shy away from growth-based assets.
VUG, which is a growth-based ETF, could see decreased interest as investors may look for safer options amid political turmoil.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
The Vanguard Consumer Staples Index Fund ETF (VDC) could benefit from the current political instability as investors may seek out defensive stocks.
VDC, which tracks consumer staple companies, could see increased interest as investors look for safer options amid political turmoil.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
POSITIVE IMPACT
The Consumer Staples Select Sector SPDR Fund (XLP) could see increased interest as investors may favor defensive stocks in times of political instability.
In times of political instability, investors often turn to defensive stocks as they are considered safer. As XLP tracks consumer staple companies, it could benefit from this shift.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75