Biden Attributes Gaza Hospital Explosion To 'The Other Team'; Commodity Prices Surge As Israel-Hamas Conflict Intensifies
Portfolio Pulse from Piero Cingari
The ongoing Israel-Hamas conflict has led to a surge in commodity prices, with gold, oil, and natural gas all seeing increases. The SPDR Gold Trust ETF (GLD) rose 1.4% to $1,950/oz, while oil surged 0.6% to $86.8 a barrel due to the risk of Iran's oil embargo on Israel. Natural gas prices also rose nearly 5% in Europe. Meanwhile, futures on the S&P 500 index were 0.4% lower. Traders are awaiting key earnings reports from Netflix Inc. (NFLX) and Tesla Inc. (TSLA).
October 18, 2023 | 1:20 pm
News sentiment analysis
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NEUTRAL IMPACT
Traders are awaiting key earnings reports from Netflix Inc. (NFLX).
The ongoing conflict may have indirect effects on Netflix's earnings due to potential changes in consumer behavior. However, the direct impact of the conflict on Netflix's earnings is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEUTRAL IMPACT
Traders are awaiting key earnings reports from Tesla Inc. (TSLA).
The ongoing conflict may have indirect effects on Tesla's earnings due to potential changes in consumer behavior. However, the direct impact of the conflict on Tesla's earnings is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
The SPDR Gold Trust ETF (GLD) rose 1.4% to $1,950/oz amid the ongoing Israel-Hamas conflict.
The ongoing conflict has led to increased uncertainty in the market, leading investors to seek safe-haven assets like gold. This has resulted in a rise in the price of the SPDR Gold Trust ETF (GLD).
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80