Live At 12 p.m. ET, U.S. House Of Representatives House Session; The House Is Expected To Hold A Speaker Election To Replace Former House Speaker Kevin McCarthy Who Was Removed From The Position On October 3
Portfolio Pulse from Benzinga Newsdesk
The U.S. House of Representatives is expected to hold a speaker election at 12 p.m. ET to replace former House Speaker Kevin McCarthy, who was removed from his position on October 3.
October 17, 2023 | 3:47 pm
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NEUTRAL IMPACT
The election of a new House Speaker could potentially impact the SPY ETF, as changes in political leadership can influence market sentiment.
Changes in political leadership can influence market sentiment and policy direction, which can in turn impact the performance of broad market ETFs like SPY. However, the direct impact of a House Speaker election on SPY is uncertain and depends on the market's perception of the new Speaker's policy stance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50