Netanyahu Stands Firm Against Ceasefire, US Congress Weighs Israel Spending Package
Portfolio Pulse from Piero Cingari
The Israeli Defense Forces and Shin Bet security agency have successfully rescued a soldier captured by Hamas. Israeli Prime Minister Benjamin Netanyahu has rejected the idea of a ceasefire. U.S. Senate Minority Leader Mitch McConnell is advocating for combined aid for Ukraine and Israel, despite House GOP efforts to pursue a separate Israel aid package offset by budget cuts. El Al Israel Airlines Ltd. (OTCPK: ELALF) has altered its flight routes to southeast Asia, extending flight durations. The Israeli shekel rose 1.2% and the iShares MSCI Israel ETF (NYSE:EIS) rallied 4.1%. Cathie Wood’s ARK Israel Innovative Technology ETF (NYSE:IZRL) rose 1.6%. U.S. stocks also saw gains, with the SPDR S&P 500 ETF Trust (NYSE:SPY) and the Invesco QQQ Trust (NASDAQ:QQQ) up 1.1%.
October 30, 2023 | 6:45 pm
News sentiment analysis
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El Al Israel Airlines has altered its flight routes to southeast Asia, extending flight durations.
The alteration of flight routes by El Al Israel Airlines could lead to increased operational costs due to longer flight durations, potentially impacting the company's profitability in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The iShares MSCI Israel ETF rallied as much as 4.1%, posting its strongest day in nearly a year.
The rally in the iShares MSCI Israel ETF is likely due to positive market sentiment towards Israeli equities, potentially driven by the successful rescue of the Israeli soldier and the strong performance of the Israeli shekel.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Cathie Wood’s ARK Israel Innovative Technology ETF rose 1.6%.
The rise in ARK Israel Innovative Technology ETF could be attributed to positive investor sentiment towards Israeli tech stocks, potentially driven by the overall strong performance of Israeli equities.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
The tech-heavy Invesco QQQ Trust was up 1.1%.
The gain in the Invesco QQQ Trust is likely due to positive market sentiment towards U.S. tech equities, potentially driven by the overall strong performance of the global stock market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
U.S. stocks extended gains for the session, with the SPDR S&P 500 ETF Trust up 1.1%.
The gain in the SPDR S&P 500 ETF Trust is likely due to positive market sentiment towards U.S. equities, potentially driven by the overall strong performance of the global stock market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100