Senior U.S. Official Said Biden, Xi Reached Agreement On Fentanyl
Portfolio Pulse from Charles Gross
A senior U.S. official reported that President Biden and President Xi have reached an agreement on the issue of fentanyl, according to Reuters. The details of the agreement were not disclosed in the article.
November 15, 2023 | 11:37 pm
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POSITIVE IMPACT
The agreement on fentanyl between the U.S. and China could potentially ease tensions and improve trade relations, which may have a positive impact on the iShares China Large-Cap ETF (FXI).
The agreement on fentanyl is a positive step in U.S.-China relations, which can lead to improved sentiment among investors regarding Chinese large-cap companies. This could result in a short-term positive impact on FXI, which tracks such companies.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The agreement between the U.S. and China may have a marginal positive impact on the SPDR S&P 500 ETF Trust (SPY) as it could reduce geopolitical risks and improve global trade sentiment.
While the agreement is more specific to U.S.-China relations, any positive developments in geopolitical relations can have a ripple effect on global markets, including the U.S. market. SPY, which mirrors the S&P 500, may see a slight uptick due to improved investor sentiment.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50