U.S. President Biden Tells Ukraine's Zelensky, "Congress Shouldn't Give Putin Christmas Gift"
Portfolio Pulse from Benzinga Newsdesk
U.S. President Biden has expressed to Ukraine's President Zelensky that Congress should not give Putin a 'Christmas gift', implying that the U.S. should maintain a strong stance against Russia. This statement suggests continued U.S. support for Ukraine and a commitment to opposing Russian actions.
December 12, 2023 | 7:35 pm
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NEUTRAL IMPACT
SPY, an ETF tracking the S&P 500, may experience volatility due to geopolitical tensions between the U.S. and Russia as indicated by Biden's statement.
While Biden's statement indicates a firm U.S. stance, which could heighten geopolitical tensions, the direct impact on SPY is likely to be limited unless the situation escalates significantly.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
VGK, an ETF that includes European equities, could be indirectly affected by U.S. relations with Russia, as Europe is closely tied to the geopolitical dynamics of the region.
Biden's comments may not have a direct impact on VGK, but increased tensions could affect European economies and, by extension, the ETF. However, the effect is likely to be moderate in the short term.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 40