Rocket Sirens Heard In Jerusalem
Portfolio Pulse from Benzinga Newsdesk
Rocket sirens were heard in Jerusalem, according to a Reuters witness. The news may have implications for ETFs such as EIS (iShares MSCI Israel ETF), SPY (SPDR S&P 500 ETF Trust), and USO (United States Oil Fund).
October 09, 2023 | 2:05 pm
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NEGATIVE IMPACT
The rocket sirens in Jerusalem may increase uncertainty and potentially affect the iShares MSCI Israel ETF (EIS).
Given that EIS tracks the investment results of an index composed of Israeli equities, any geopolitical instability in Israel could negatively impact the ETF's performance.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) could be indirectly affected by the rocket sirens in Jerusalem due to potential global market volatility.
SPY tracks the S&P 500, which is a broad representation of the US stock market. Any geopolitical instability can cause market volatility, which could indirectly affect SPY.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
The United States Oil Fund (USO) could be affected by the rocket sirens in Jerusalem due to potential disruptions in oil supply.
USO tracks the price of West Texas Intermediate light, sweet crude oil. Any geopolitical instability in the Middle East can disrupt oil supply, which could negatively impact USO.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70