Speaker Johnson Says President Biden's Supreme Court Reform Proposal Is 'Dead On Arrival' In The House
Portfolio Pulse from Benzinga Newsdesk
Speaker Johnson has declared that President Biden's Supreme Court reform proposal will not pass in the House, effectively rendering it 'dead on arrival.'
July 29, 2024 | 3:05 pm
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NEUTRAL IMPACT
The rejection of President Biden's Supreme Court reform proposal by Speaker Johnson may lead to short-term market stability as significant legal changes are unlikely to occur.
The news indicates that significant legal changes proposed by President Biden are unlikely to pass, which may result in short-term market stability. However, the direct impact on SPY is neutral as the proposal's rejection does not introduce new market-moving factors.
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