John Kirby Says US Wants Beijing To Press Iran To Cut Off Weapons Supply To Yemeni Rebel Group; Sullivan To Meet Wang Yi, Discuss Yemeni Houthi Rebel Attacks On Red Sea Shipping, NSA Jake Sullivan Flies To Thailand For Talks With Senior Chinese Officials
Portfolio Pulse from Benzinga Newsdesk
John Kirby, a U.S. official, stated that the U.S. wants China to pressure Iran to stop supplying weapons to Yemeni rebels. National Security Advisor Jake Sullivan is set to meet with Chinese official Wang Yi to discuss the issue and its impact on Red Sea shipping. Sullivan is traveling to Thailand for talks with senior Chinese officials, as reported by Dow Jones citing The Wall Street Journal.
January 25, 2024 | 4:42 pm
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NEUTRAL IMPACT
The meeting between U.S. and Chinese officials regarding security in the Red Sea could influence investor sentiment on the iShares China Large-Cap ETF (FXI), which tracks Chinese large-cap stocks.
While the meeting is significant for geopolitical relations, its direct impact on the Chinese large-cap stocks that FXI tracks may be limited in the short term unless specific outcomes affect trade routes or international relations.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
The S&P 500 ETF (SPY) could see some impact from the U.S.-China talks if the discussions lead to changes in geopolitical stability or impact global trade, particularly in the Red Sea region.
The SPY ETF, which mirrors the S&P 500, may be affected by shifts in geopolitical stability. However, the direct short-term impact of these talks is likely to be minimal unless they result in significant changes to trade or security.
CONFIDENCE 60
IMPORTANCE 30
RELEVANCE 30
NEUTRAL IMPACT
The United States Oil ETF (USO) could be influenced by the outcome of the U.S.-China talks, as any tension in the Red Sea region can affect oil shipping routes and global oil supply.
The USO ETF, which tracks the performance of U.S. oil, could be sensitive to geopolitical events that threaten oil shipping routes. The Red Sea is a critical chokepoint for oil transport, and any escalation could disrupt supply and affect USO's price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60