UN Security Council To Vote On Rival Draft Resolutions On Israel, Gaza Later On Monday
Portfolio Pulse from Charles Gross
The UN Security Council is set to vote on rival draft resolutions on Israel and Gaza, according to Reuters citing diplomats. The outcome of the vote could potentially impact the geopolitical landscape in the Middle East.
October 16, 2023 | 11:44 am
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NEGATIVE IMPACT
The vote on the draft resolutions could potentially impact the iShares MSCI Israel ETF (EIS) due to its exposure to Israeli equities.
The ETF EIS has a significant exposure to Israeli equities. Any geopolitical tension or regulatory changes in the region could potentially impact the performance of these equities, and consequently, the ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The United States Oil Fund (USO) could potentially be impacted by the vote due to the geopolitical importance of the Middle East in the oil market.
The Middle East is a significant player in the global oil market. Any geopolitical tensions in the region could potentially impact oil prices and consequently, the performance of the USO ETF.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
NEUTRAL IMPACT
The SPDR S&P 500 ETF (SPY) could potentially be indirectly affected by the vote due to its broad market exposure.
The SPY ETF tracks the S&P 500 index, which includes companies with global operations. Any geopolitical tensions could potentially impact the broader market and indirectly affect the ETF.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 50