Armed Drone Shot Down Near Iraqi Ain Al-Asad Air Base, No Casualties
Portfolio Pulse from Benzinga Newsdesk
An armed drone was shot down near the Iraqi Ain Al-Asad Air Base, according to Reuters citing security sources. There were no reported casualties. The event may have implications for EIS, SPY, and USO.
November 09, 2023 | 4:53 pm
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NEGATIVE IMPACT
The event may increase geopolitical tensions in the Middle East, potentially affecting the iShares MSCI Israel ETF (EIS).
Geopolitical tensions in the Middle East often lead to increased market volatility. As EIS tracks the investment results of an index composed of Israeli equities, it may be negatively impacted.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
The event may increase global geopolitical tensions, potentially affecting the SPDR S&P 500 ETF (SPY).
Geopolitical tensions can lead to increased market volatility. As SPY tracks the S&P 500 Index, it may be negatively impacted by any global market instability.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
The event may disrupt oil production in the region, potentially affecting the United States Oil Fund (USO).
Any disruption in oil production in the Middle East can lead to a rise in oil prices. As USO tracks the price of West Texas Intermediate light, sweet crude oil, it may be positively impacted.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 70