Hamas Releases 2 American Hostages Amid Escalating Tensions: Calls For Ceasefire Grow
Portfolio Pulse from Piero Cingari
Two American hostages were released by Hamas, amid escalating tensions. The release was facilitated through Qatari mediation, and the U.S. and European governments are pushing Israel to delay its Gaza ground invasion to give diplomacy an opportunity to free other hostages held by Hamas. The S&P 500 Index, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), recorded a 0.9% decline, while the tech-focused Invesco QQQ Trust (NASDAQ:QQQ) saw a 1.1% decrease. Investors opted for safer assets, resulting in gains for both Treasuries and gold. The iShares 20+ Year Treasury ETF (NASDAQ:TLT) rose by 0.6%, and the SPDR Gold Trust (NYSE:GLD) showed a 0.4% increase.
October 20, 2023 | 7:33 pm
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POSITIVE IMPACT
The SPDR Gold Trust (NYSE:GLD) showed a 0.4% increase as investors opted for safer assets.
The escalating tensions have led investors to opt for safer assets, benefiting the GLD ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The iShares 20+ Year Treasury ETF (NASDAQ:TLT) rose by 0.6% as investors opted for safer assets.
The escalating tensions have led investors to opt for safer assets, benefiting the TLT ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The tech-focused Invesco QQQ Trust (NASDAQ:QQQ) saw a 1.1% decrease due to escalating tensions.
The escalating tensions have led to a decline in the stock market, impacting the QQQ ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (NYSE:SPY) recorded a 0.9% decline due to escalating tensions.
The escalating tensions have led to a decline in the stock market, impacting the SPY ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100