FAA Says Departures To Newark Airport Grounded Until 12:30 ET
Portfolio Pulse from Benzinga Newsdesk
The FAA has announced that departures to Newark Airport will be grounded until 12:30 ET, according to Reuters.
April 05, 2024 | 3:32 pm
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NEUTRAL IMPACT
The grounding of departures to Newark Airport may indirectly affect the SPY ETF due to potential impacts on airline and travel-related stocks.
While the SPY ETF is diversified across various sectors, the grounding of flights to Newark Airport could have a short-term negative impact on airline and travel-related stocks within the ETF. However, the overall impact on SPY is likely to be limited due to its broad diversification.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50