U.S. Homeland Security Secretary Mayorkas Says No Resources Needed For Hurricane Helene Response Will Be Diverted To Respond To Hurricane Milton; We Implore Congress To Fund FEMA As Is Needed
Portfolio Pulse from Benzinga Newsdesk
U.S. Homeland Security Secretary Mayorkas assured that resources for Hurricane Helene will not be diverted to respond to Hurricane Milton. He urged Congress to adequately fund FEMA.
October 10, 2024 | 5:24 pm
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NEUTRAL IMPACT
The assurance from Homeland Security Secretary Mayorkas that resources for Hurricane Helene will not be diverted to Hurricane Milton may provide stability to markets, as SPY represents the S&P 500, which could be affected by major disruptions.
The statement by Secretary Mayorkas suggests a stable approach to disaster management, which is crucial for maintaining economic stability. While this is positive, the direct impact on SPY is limited as it is a broad market ETF.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20