White House Says President Biden Requests $14.3B In Supplemental Funding For Israel, $10.6B Is Military Aid; Asks Congress For $13.6B For Border Protection, Including $1.2B To Counter Fentanyl
Portfolio Pulse from Benzinga Newsdesk
President Biden has requested $14.3B in supplemental funding for Israel, with $10.6B earmarked for military aid. He has also asked Congress for $13.6B for border protection, including $1.2B to counter Fentanyl.
October 20, 2023 | 2:33 pm
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NEUTRAL IMPACT
The S&P 500 ETF (SPY) could be indirectly affected by President Biden's funding requests. Increased military spending could benefit defense stocks, while border protection funding could impact immigration-related stocks.
While the funding requests do not directly mention any specific US-listed companies or ETFs, they could have indirect effects on the market. Increased military spending could boost defense stocks, which are part of the S&P 500. Similarly, increased border protection funding could impact stocks related to immigration and border security.
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