Israel-Hamas War Day 11: Biden Heads To Middle East As Gaza Humanitarian Crisis Deepens, Terrorist Hostage Video Surfaces
Portfolio Pulse from Piero Cingari
The Israel-Hamas conflict continues to escalate, with President Biden set to visit Israel and Jordan to address the humanitarian crisis and stand in solidarity against Hamas. German Chancellor Olaf Scholz and French President Emmanuel Macron are also expected to visit Israel. Meanwhile, investor risk sentiment has faltered, with the U.S. dollar index and gold prices rising, and equity indices across Europe falling. The Invesco DB USD Index Bullish Fund ETF (UUP), SPDR Gold Trust ETF (GLD), and SPDR DJ Euro Stoxx ETF (FEZ) are directly mentioned.
October 17, 2023 | 1:17 pm
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Equity indices fell across Europe, with the pan-European Euro Stoxx 50 index, as tracked by the SPDR DJ Euro Stoxx ETF (FEZ), down 0.9%.
The fall in European equity indices, which the FEZ ETF tracks, is likely due to increased investor risk aversion amid geopolitical tensions and market volatility. This could lead to a fall in the FEZ ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Gold, as represented by the SPDR Gold Trust ETF (GLD), ticked higher by 0.2% to $1,922/oz, despite a stronger dollar and rising Treasury yields.
The rise in gold prices, which the GLD ETF tracks, is likely due to increased investor demand for safe-haven assets amid geopolitical tensions and market volatility. This could lead to a rise in the GLD ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The U.S. dollar index, as tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), rose 0.3%, likely reacting to better-than-expected retail sales figures last month.
The rise in the U.S. dollar index, which the UUP ETF tracks, is likely due to better-than-expected retail sales figures. This positive economic data could increase investor confidence in the U.S. economy, leading to a rise in the UUP ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100