U.S. President Biden Considering $100B Funding Request That Includes Israel, Ukraine Aid
Portfolio Pulse from Benzinga Newsdesk
U.S. President Biden is considering a $100 billion funding request that includes aid for Israel and Ukraine, according to a report by Bloomberg cited by Reuters.
October 17, 2023 | 8:27 pm
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POSITIVE IMPACT
The proposed funding request by President Biden, which includes aid for Israel, could potentially benefit EIS, an ETF that tracks the performance of the Israeli equity market.
The proposed aid for Israel, if approved, could stimulate the Israeli economy and, in turn, positively impact the performance of the Israeli equity market, which EIS tracks.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The proposed funding request by President Biden, which includes aid for Ukraine, could potentially benefit VGK, an ETF that tracks the performance of the European equity market.
The proposed aid for Ukraine, if approved, could stimulate the Ukrainian economy and, in turn, positively impact the performance of the European equity market, which VGK tracks.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The proposed funding request by President Biden could have a neutral impact on SPY, an ETF that tracks the S&P 500, as it is not directly related to the performance of the U.S. equity market.
The proposed funding request, while significant, is not directly tied to the performance of the U.S. equity market, which SPY tracks. Therefore, its impact on SPY is expected to be neutral.
CONFIDENCE 90
IMPORTANCE 40
RELEVANCE 50