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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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
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