Israel-Hamas War, Day 24: Israel Expands Operations In Gaza, UN To Hold Emergency Meeting, World Bank Sees Surging Oil Prices
Portfolio Pulse from Piero Cingari
The ongoing conflict between Israel and Hamas has led to the World Bank warning of a potential surge in oil prices. The UN Security Council is set to hold an emergency meeting to discuss the situation. Meanwhile, global stocks have started the week positively, with the SPDR S&P 500 Index (NYSE:SPY) up 0.6% and the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) down 0.2%.
October 30, 2023 | 1:28 pm
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POSITIVE IMPACT
The SPDR S&P 500 Index (NYSE:SPY) was up 0.6% ahead of the market open in New York.
The ongoing conflict between Israel and Hamas could potentially impact global markets, but so far, the SPY ETF has shown a positive response, indicating investor confidence.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) fell 0.2%, despite rising Treasury yields Monday morning.
Despite rising Treasury yields, the UUP ETF fell 0.2%. This could be due to investor concerns about the potential impact of the Israel-Hamas conflict on the global economy.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100