Israel-Hamas War, Day 43: IDF Discovers Tunnels Near Hospital; UN Official Condemns Use Of Water As 'Weapon of War' In Gaza
Portfolio Pulse from Piero Cingari
The Israel-Hamas conflict continues with the IDF discovering a tunnel at Al-Shifa Hospital, the recovery of a soldier's body, and Netanyahu proposing a 'temporary cease-fire' conditioned on hostage release. Israel has allowed fuel trucks into Gaza to alleviate the humanitarian crisis, despite criticism from National Security Minister Itamar Ben Gvir. A UN official condemned the use of water as a weapon in Gaza. International discussions are ongoing, with Erdogan set to meet Scholz. The Israeli shekel strengthened, and the Tel Aviv 125 index rose, suggesting potential gains for the iShares MSCI Israel ETF (EIS). U.S. markets saw a slight decline in SPY and QQQ.
November 17, 2023 | 3:42 pm
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POSITIVE IMPACT
The Tel Aviv 125 index rose by 1.1%, which may indicate a positive performance for the iShares MSCI Israel ETF (EIS) in the short term.
The rise in the Tel Aviv 125 index is a direct indicator of investor optimism in Israeli markets, which is likely to have a positive impact on EIS, an ETF that tracks the performance of the Israeli stock market.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco QQQ Trust (QQQ) saw a decline of 0.4% shortly after the opening bell, which may be influenced by general market trends rather than specific news from the Israel-Hamas conflict.
The drop in QQQ is likely a result of overall market conditions and not directly related to the events in the Middle East. However, geopolitical instability can contribute to market volatility, potentially impacting QQQ.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) experienced a slight drop of 0.2% at market open, potentially due to broader market conditions rather than the Israel-Hamas conflict.
The decline in SPY is likely influenced by broader market sentiments and not directly by the Israel-Hamas conflict. However, global geopolitical tensions can have an indirect effect on market confidence and thus on ETFs like SPY.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50