Israel-Hamas Conflict: School Airstrike Escalates Tensions, NAACP Calls For Halt To US Weapons Deliveries
Portfolio Pulse from Piero Cingari
The Israel-Hamas conflict has escalated following an Israeli airstrike on a Gaza school, resulting in civilian casualties. The NAACP has called for a halt to US weapons deliveries to Israel, which could impact President Biden's support among Black voters. The US has also warned Israel against engaging in a war with Lebanon. The iShares MSCI Israel ETF (EIS) fell 0.5%, while the United States Oil Fund (USO) rose 1.9%.
June 06, 2024 | 8:24 pm
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POSITIVE IMPACT
The United States Oil Fund (USO) rose 1.9% as oil prices edged higher amid the escalating Israel-Hamas conflict.
The rise in oil prices is likely due to increased geopolitical tensions, which typically lead to higher oil prices, benefiting USO.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
The iShares MSCI Israel ETF (EIS) fell 0.5% amid escalating tensions in the Israel-Hamas conflict and calls from the NAACP to halt US weapons deliveries to Israel.
The ETF's decline is directly linked to the escalating conflict and the potential political ramifications of the NAACP's call to halt US weapons deliveries to Israel.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100