Israel-Hamas War: Day 13 - Netanyahu's Long War Alert, Egypt Opens Aid Path To Gaza, Biden Considers $10B Support
Portfolio Pulse from Piero Cingari
The ongoing Israel-Hamas conflict has led to geopolitical chaos in the Middle East. Egypt has approved aid convoys to Gaza, and the European Union has welcomed Israel's commitment to allow some humanitarian aid. The Biden administration is considering a $10 billion support package for Israel. The Israeli shekel and the Israeli stock market (TA-125 index) have declined, while gold has appreciated. The U.S. dollar weakened, and oil prices fell.
October 19, 2023 | 1:28 pm
News sentiment analysis
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NEGATIVE IMPACT
The ongoing conflict has negatively impacted the Israeli stock market, as represented by the iShares MSCI Israel ETF (EIS), which fell by 0.7%.
The conflict has created uncertainty in the region, leading to a decline in the Israeli stock market. This has directly impacted EIS, which represents the Israeli stock market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Gold, as represented by the SPDR Gold Trust (GLD), has appreciated by over 6% since the beginning of the war, indicating its status as a safe-haven asset during this market phase.
The ongoing conflict has led to increased market uncertainty, causing investors to turn to safe-haven assets like gold. This has resulted in an appreciation of GLD.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100