Israel Finance Minister Smotrich Says Preparing Aid Package For Israel Economy That Will Be Bigger Than During Covid Pandemic
Portfolio Pulse from Benzinga Newsdesk
Israel's Finance Minister Smotrich is preparing an aid package for the Israeli economy that will be larger than the one provided during the Covid-19 pandemic.
October 19, 2023 | 3:06 pm
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POSITIVE IMPACT
The iShares MSCI Israel ETF (EIS) could see a positive impact from the announcement of a larger aid package for the Israeli economy.
The iShares MSCI Israel ETF (EIS) tracks the investment results of an index composed of Israeli equities. The announcement of a larger aid package for the Israeli economy could stimulate economic activity and boost the performance of Israeli equities, potentially leading to a positive impact on EIS.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The impact on SPDR S&P 500 ETF Trust (SPY) is likely to be minimal as it is a broad-based US equity ETF and the news is specific to the Israeli economy.
The SPDR S&P 500 ETF Trust (SPY) tracks the S&P 500 Index, which is composed of US equities. As the news is specific to the Israeli economy, it is unlikely to have a significant impact on the performance of US equities and therefore on SPY.
CONFIDENCE 85
IMPORTANCE 20
RELEVANCE 20