Israel-Hamas War, Day 20: IDF Tanks Conduct Tactical Raids In Northern Gaza As Ground Offensive Looms; Erdogan Criticizes Israel
Portfolio Pulse from Piero Cingari
The ongoing Israel-Hamas conflict has led to a potential ground operation in Gaza by Israel. The Israeli military has conducted overnight missions using tanks in northern Gaza. Western allies have warned Israel about the potential risk of a trap in Gaza. Turkish President Erdogan criticized Israel's strikes on Gaza and the international community's silence. Iraqi demonstrators have obstructed oil tanker trucks to prevent Iraqi oil from being exported to nations that have peace agreements with Israel. The S&P 500 Index futures indicated a 0.2% decrease, while the Nasdaq 100 showed a flat start. The Invesco DB USD Index Bullish Fund ETF (UUP) experienced a slight uptick of 0.2%, and the SPDR Gold Trust (GLD) fell 0.2%.
October 26, 2023 | 1:59 pm
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NEGATIVE IMPACT
The SPDR Gold Trust (GLD) fell 0.2% amid the ongoing Israel-Hamas conflict.
The ongoing conflict and geopolitical tensions can lead to fluctuations in the price of gold. The fall in GLD could be due to investors' reactions to these tensions.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
The Invesco DB USD Index Bullish Fund ETF (UUP) experienced a slight uptick of 0.2% amid the ongoing Israel-Hamas conflict.
The ongoing conflict and geopolitical tensions can lead to investors seeking safe-haven assets, which can strengthen the US dollar. This is likely the reason for the slight uptick in UUP.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50