U.S. Senate Majority Leader Schumer Says Senate To File Cloture On Stopgap Bill To Avert Partial Government Shutdown
Portfolio Pulse from Benzinga Newsdesk
U.S. Senate Majority Leader Schumer announced that the Senate will file cloture on a stopgap bill to prevent a partial government shutdown. This move aims to ensure continued government operations and avoid economic disruptions.
September 19, 2024 | 2:14 pm
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POSITIVE IMPACT
The announcement of a cloture filing on a stopgap bill by Senate Majority Leader Schumer is likely to stabilize market sentiment, as it aims to prevent a government shutdown, which could have negative economic implications.
The SPY ETF, which tracks the S&P 500, is sensitive to macroeconomic events such as government shutdowns. The Senate's action to file cloture on a stopgap bill reduces the risk of a shutdown, which could have led to market volatility. This move is likely to be seen positively by investors, potentially leading to a short-term positive impact on SPY.
CONFIDENCE 80
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