President Biden Signs Stopgap Government Funding Bill Into Law
Portfolio Pulse from Benzinga Newsdesk
President Biden has signed a stopgap government funding bill, averting a government shutdown and ensuring continued operations.
January 19, 2024 | 6:23 pm
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POSITIVE IMPACT
The signing of the stopgap government funding bill by President Biden may lead to short-term stability in the markets, potentially impacting SPY positively.
The signing of the stopgap funding bill is likely to reduce immediate fiscal uncertainty, which can have a stabilizing effect on the markets. As SPY tracks a broad range of U.S. stocks, reduced government shutdown risk may lead to a positive sentiment among investors, potentially driving up the ETF's price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70