U.S. Senate Passes Government-Funding Bill, Sends To President Biden To Sign Into Law
Portfolio Pulse from Benzinga Newsdesk
The U.S. Senate has passed a government-funding bill, which is now sent to President Biden for his signature to become law. This move is expected to prevent a government shutdown and ensure continued funding for federal operations.
March 08, 2024 | 6:33 pm
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POSITIVE IMPACT
The passage of the government-funding bill by the U.S. Senate, which is now awaiting President Biden's signature, is likely to have a positive impact on the SPY ETF as it averts a potential government shutdown.
Government shutdowns typically lead to uncertainty and volatility in the markets. The passage of a funding bill to prevent such a shutdown is generally viewed positively by investors, as it ensures the continuity of government operations and services. This stability is likely to be reflected in the performance of broad market ETFs like SPY, which tracks the S&P 500, a benchmark index for U.S. equities.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80