Israel Could Form Emergency Government: Defense Stocks, Israel ETFs In Focus During Conflict
Portfolio Pulse from Chris Katje
As the conflict between Israel and Hamas continues, Israel is considering forming an emergency government. This situation has led to volatility in several sectors, including oil, gold, and defense stocks. Defense stocks such as Lockheed Martin Corporation, Northrop Grumman Corporation, RTX Corporation, General Dynamics Corporation, and Kratos Defense & Security Solutions saw heavy action. Companies headquartered in Israel or with major operations in the country were mostly down, but some, like Mobileye Global Inc and Teva Pharmaceutical Industries Ltd, were recovering. ETFs that cover Israel, including iShares MSCI Israel ETF, Ark Israel Innovative Technology, VanEck Israel ETF, and the BlueStar Israel Technology ETF, were trading higher.
October 10, 2023 | 3:04 pm
News sentiment analysis
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POSITIVE IMPACT
iShares MSCI Israel ETF was trading higher at the time of publication Tuesday.
Despite the ongoing conflict, iShares MSCI Israel ETF's price was trading higher, indicating a potential positive impact in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
General Dynamics Corporation saw heavy action due to the ongoing conflict.
The ongoing conflict has led to increased demand for defense stocks, which is likely to positively impact General Dynamics Corporation's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
VanEck Israel ETF was trading higher at the time of publication Tuesday.
Despite the ongoing conflict, VanEck Israel ETF's price was trading higher, indicating a potential positive impact in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The BlueStar Israel Technology ETF was trading higher at the time of publication Tuesday.
Despite the ongoing conflict, The BlueStar Israel Technology ETF's price was trading higher, indicating a potential positive impact in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Ark Israel Innovative Technology was trading higher at the time of publication Tuesday.
Despite the ongoing conflict, Ark Israel Innovative Technology's price was trading higher, indicating a potential positive impact in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Kratos Defense & Security Solutions saw heavy action due to the ongoing conflict.
The ongoing conflict has led to increased demand for defense stocks, which is likely to positively impact Kratos Defense & Security Solutions' stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lockheed Martin Corporation saw heavy action due to the ongoing conflict.
The ongoing conflict has led to increased demand for defense stocks, which is likely to positively impact Lockheed Martin's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Mobileye Global Inc was recovering in Tuesday trading.
Despite the ongoing conflict, Mobileye Global Inc's stock price was recovering, indicating a potential positive impact in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Northrop Grumman Corporation saw heavy action due to the ongoing conflict.
The ongoing conflict has led to increased demand for defense stocks, which is likely to positively impact Northrop Grumman's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
RTX Corporation saw heavy action due to the ongoing conflict.
The ongoing conflict has led to increased demand for defense stocks, which is likely to positively impact RTX Corporation's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Teva Pharmaceutical Industries Ltd was trading higher in Tuesday trading.
Despite the ongoing conflict, Teva Pharmaceutical Industries Ltd's stock price was trading higher, indicating a potential positive impact in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70