President Biden Says Will Have To Deal With Unforeseen Cost Of Hurricane; Says Will Probably Have To Ask Congress For More Money To Deal With Problems
Portfolio Pulse from Benzinga Newsdesk
President Biden announced that the government will need to address unforeseen costs resulting from a recent hurricane. He indicated that it might be necessary to request additional funding from Congress to manage these issues.
October 04, 2024 | 6:14 pm
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NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may experience volatility due to potential changes in government spending and fiscal policy as President Biden seeks additional funds to address hurricane-related costs.
The request for additional funds could lead to changes in fiscal policy, affecting market sentiment. However, the direct impact on SPY is uncertain, leading to a neutral short-term outlook.
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