President Biden Says When A Company Transitions To A New Technology, They Should Retool, Reboot And Rehire At The Same Factories
Portfolio Pulse from Benzinga Newsdesk
President Biden has suggested that companies transitioning to new technologies should retool, reboot, and rehire at the same factories. This statement could potentially impact companies and ETFs that are in the process of technological transition.
November 09, 2023 | 7:13 pm
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NEUTRAL IMPACT
As an ETF that tracks Chinese large-cap stocks, FXI could be indirectly affected by Biden's statement if it influences multinational companies' decisions on tech transitions in China.
While Biden's statement is not directly related to FXI, it could influence the decisions of multinational companies that are part of the ETF's holdings. If these companies decide to follow Biden's advice and rehire at the same factories during tech transitions, it could potentially impact their operational costs and efficiency, which could in turn affect their stock performance and thus FXI.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
As an ETF that tracks the S&P 500, SPY could be impacted by Biden's statement if it influences the decisions of US companies during tech transitions.
Biden's statement could potentially influence the decisions of US companies that are part of the S&P 500 and thus SPY. If these companies decide to follow Biden's advice and rehire at the same factories during tech transitions, it could potentially impact their operational costs and efficiency, which could in turn affect their stock performance and thus SPY.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50