Biden Urges Israel, Hamas To Accept 3-Stage Hostage, Cease-Fire Deal In Gaza: 'It's Time To End This War'
Portfolio Pulse from Piero Cingari
President Joe Biden proposed a comprehensive three-phase hostage and cease-fire deal to end the conflict in Gaza, urging both Israel and Hamas to accept the terms. The proposal includes a cease-fire, release of hostages, and a major reconstruction plan for Gaza. The market reacted positively, with major indices trimming losses and oil prices falling.
May 31, 2024 | 7:53 pm
News sentiment analysis
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NEGATIVE IMPACT
The iShares MSCI Israel ETF (EIS) was down 0.6% for the day, reflecting ongoing concerns despite the cease-fire proposal.
The EIS ETF, which tracks Israeli equities, was down 0.6% for the day, indicating that investors remain cautious about the situation despite the proposed cease-fire.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The Invesco QQQ Trust (QQQ) also trimmed losses after Biden's announcement, reflecting a positive shift in market sentiment.
The QQQ ETF, which tracks the Nasdaq 100, showed a recovery from earlier losses, indicating that tech investors are also responding positively to the news.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) saw a recovery in losses following Biden's cease-fire proposal, indicating positive market sentiment.
The SPY ETF, which tracks the S&P 500, recovered from heavier losses earlier in the day, suggesting that investors are optimistic about the potential resolution of the conflict.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80