Israel-Hamas War Day 10: Blinken's Israel Visit Continues, Markets Rebound From Friday's Selloff
Portfolio Pulse from Piero Cingari
The Israel-Hamas conflict continues into its tenth day, with diplomatic efforts ongoing and global solidarity rallies for Palestine gaining momentum. The conflict has led to the evacuation of several U.S. citizens from Haifa Port due to flight cancellations. The stock market rebounded on Monday following a significant selloff on Friday. SPDR Gold Trust (GLD) fell 0.3%, United States Oil Fund (UUP) increased by 0.6%, and MSCI Israel ETF (EIS) rebounded by 2.4%.
October 16, 2023 | 2:00 pm
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NEGATIVE IMPACT
SPDR Gold Trust (GLD) fell by 0.3% amid the ongoing Israel-Hamas conflict.
The ongoing conflict has led to market volatility, impacting the price of gold, which is often seen as a safe haven during times of uncertainty.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
MSCI Israel ETF (EIS) rebounded by 2.4% on Monday following a fall to its lowest levels since May 2021.
The ongoing conflict in Israel has directly impacted Israeli stocks, as reflected by the MSCI Israel ETF. The recent rebound suggests some level of market recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
United States Oil Fund (UUP) experienced a 0.6% increase amid the ongoing Israel-Hamas conflict.
The ongoing conflict has led to market volatility, potentially impacting oil prices and thus the performance of the United States Oil Fund.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70