UN Security Council Adopts US-Drafted Resolution Supporting Biden's Ceasefire Proposal Between Israel And Hamas; Russia Abstains
Portfolio Pulse from Benzinga Newsdesk
The UN Security Council has adopted a US-drafted resolution supporting President Biden's ceasefire proposal between Israel and Hamas, with Russia abstaining from the vote.
June 10, 2024 | 7:44 pm
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POSITIVE IMPACT
The adoption of the US-drafted resolution supporting Biden's ceasefire proposal between Israel and Hamas could stabilize the geopolitical situation, potentially benefiting the iShares MSCI Israel ETF (EIS).
The ceasefire proposal, if successful, could lead to reduced geopolitical tensions in the region, which would be positive for Israeli markets and, by extension, the iShares MSCI Israel ETF (EIS).
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The UN Security Council's adoption of the ceasefire proposal may reduce global geopolitical risks, which could have a stabilizing effect on the broader market, including the SPDR S&P 500 ETF (SPY).
A successful ceasefire could reduce global geopolitical risks, which generally benefits broader market indices like the S&P 500, tracked by the SPDR S&P 500 ETF (SPY).
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60