White House Economic Adviser Brainard Says Biden Administration Wants To Keep Gas Prices In Current Ranges
Portfolio Pulse from Benzinga Newsdesk
White House Economic Adviser Brainard stated that the Biden Administration aims to maintain gas prices within their current ranges, according to Reuters.
April 18, 2024 | 4:29 pm
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NEUTRAL IMPACT
SPY, an ETF that tracks the S&P 500, could see indirect effects as stable gas prices may influence overall economic sentiment and consumer spending.
While SPY is not directly linked to gas prices, stable energy costs can affect consumer spending and economic growth, indirectly influencing the broad market index that SPY tracks.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
UNG, an ETF tracking natural gas futures, may not see a direct impact from this statement as it pertains specifically to gasoline prices, not natural gas.
UNG tracks natural gas futures, which are distinct from gasoline prices. The administration's focus on gasoline prices may not have a direct correlation with natural gas market dynamics.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
USO, an ETF that tracks crude oil prices, could be impacted if the Biden Administration's efforts to stabilize gas prices involve measures affecting crude oil markets.
Since USO tracks crude oil prices, any regulatory or strategic moves by the administration to keep gas prices stable could indirectly affect crude oil prices and, consequently, USO.
CONFIDENCE 65
IMPORTANCE 70
RELEVANCE 70