President Biden Said Deploying US Troops In Middle East War Is Not Necessary, Israel Has "One Of The Finest Fighting Forces"
Portfolio Pulse from Charles Gross
President Biden has stated that deploying US troops in the Middle East war is not necessary as Israel has 'one of the finest fighting forces'. This could potentially impact the performance of certain ETFs.
October 15, 2023 | 11:17 pm
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POSITIVE IMPACT
The iShares MSCI Israel ETF (EIS) could potentially benefit from Biden's statement, as it indicates confidence in Israel's military capabilities.
Biden's statement indicates a strong confidence in Israel's military capabilities, which could potentially boost investor confidence in Israeli assets, including the EIS ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) may see minimal impact from this news, as it is a broad market ETF and not specifically tied to the Middle East conflict.
As SPY is a broad market ETF, it is not directly tied to the Middle East conflict and thus, the impact of this news on SPY is likely to be minimal.
CONFIDENCE 85
IMPORTANCE 30
RELEVANCE 30
NEUTRAL IMPACT
The United States Oil Fund (USO) could potentially be impacted by this news, as geopolitical tensions in the Middle East often influence oil prices.
Geopolitical tensions in the Middle East often influence oil prices. Therefore, Biden's stance on the Middle East conflict could potentially impact the performance of the USO ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 60