President Biden Says Administration Will Keep Pressure On Companies So Prices Stay Stable Amid Hurricane Milton; Disinformation And Outright Lies About Hurricane, Including By Trump And Others, Are Reckless And Irresponsible
Portfolio Pulse from Benzinga Newsdesk
President Biden announced that his administration will maintain pressure on companies to keep prices stable during Hurricane Milton. He criticized disinformation about the hurricane, including statements by Trump, as reckless.
October 09, 2024 | 4:49 pm
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NEUTRAL IMPACT
The Biden administration's commitment to keeping prices stable during Hurricane Milton may impact the broader market, as represented by SPY, by potentially reducing volatility.
The administration's efforts to stabilize prices during a natural disaster could lead to reduced market volatility, which may have a neutral impact on SPY in the short term. However, the direct impact on SPY is not predominant as the news is more about regulatory actions rather than specific market movements.
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