Iran's Supreme Leader Orders Direct Strike On Israel In Retaliation For Hamas Leader's Killing: Report
Portfolio Pulse from Michael Cohen
Iran's Supreme Leader Ayatollah Ali Khamenei has reportedly ordered a direct strike on Israel in retaliation for the killing of Hamas leader Ismail Haniyeh. This escalation could lead to increased tensions and potential conflict in the Middle East. The SPDR S&P 500 ETF Trust (SPY), SPDR Gold Shares (GLD), and United States Oil Fund (USO) have seen price movements in response to the news.
July 31, 2024 | 8:19 pm
News sentiment analysis
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POSITIVE IMPACT
SPDR Gold Shares (GLD) closed 1.8% higher as investors seek safe-haven assets amid escalating tensions in the Middle East.
Gold is traditionally seen as a safe-haven asset during times of geopolitical instability, leading to an increase in GLD's price.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) moved higher by 1.63% on Wednesday amid escalating tensions in the Middle East.
The increase in SPY's price is likely due to investors reacting to geopolitical tensions, which can lead to market volatility and a flight to quality assets.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
United States Oil Fund (USO) surged 4.4% due to concerns over potential disruptions in oil supply amid escalating Middle East tensions.
The potential for conflict in the Middle East raises concerns about oil supply disruptions, driving up the price of oil and oil-related ETFs like USO.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 85