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Tensions between Israel and Iran have escalated, causing market volatility. Israel's war cabinet plans a forceful response to Iran, while the G7 considers sanctions against Iran's missile program. This geopolitical tension has led to a decline in stock markets, with the SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF, and Invesco QQQ Trust experiencing losses. Conversely, the SPDR Gold Trust and iShares Silver Trust saw gains amid increased safe haven demand. The United States Oil Fund also rose slightly as oil prices surged above $85 a barrel.

Portfolio Pulse from Piero Cingari

April 15, 2024 | 7:30 pm

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White House's Kirby clarified that Iran did not provide early warning to Israel regarding its intentions, which were aimed at causing significant destruction. Although messages were received from Iran, none included specifics on the timeframe, targets, or type of response. Kirby also noted that Israel is in a far stronger strategic position today.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:46 pm

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The Israeli Air Force is ready for an imminent attack against Iran in response to Iran's missile and drone launches towards Israeli territory, as stated by Israel's military chief of staff.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:28 pm

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President Biden has affirmed the U.S.'s commitment to Israeli security and to achieving a ceasefire that aims to return hostages and prevent the conflict from escalating further.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:22 pm

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Israel aims to take action against Iran, seeking to cause harm without triggering an all-out war, and desires coordination with the United States. This strategy was reported following a war cabinet meeting, as per Israel's Channel 12 News.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:37 pm

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Following Iran's drone and missile attack on Israel, market sentiment shifted from war fears to calm, with President Biden urging Israel to avoid retaliation. The CBOE Volatility Index dropped, indicating reduced market anxiety. Equities rallied, with SPY and EZU experiencing gains. Oil and gold prices fell, reflecting diminished concerns over Middle East tensions. Analysts suggest the market's reaction is due to no significant casualties and a reduced likelihood of escalation. However, potential Israeli retaliation could impact energy markets, with oil prices potentially surging if the Strait of Hormuz is disrupted.

Portfolio Pulse from Piero Cingari

April 15, 2024 | 3:28 pm

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Iran's Foreign Minister stated in a conversation with the British counterpart that while Iran does not seek increased tension, it will respond instantly and more strongly if Israel retaliates. This statement was reported by Reuters, citing state media.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:37 pm

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Israeli Defense Minister Yoav Gallant informed U.S. Defense Secretary Lloyd Austin that Israel must retaliate against Iran's missile and drone attack. The Biden administration, along with Western allies, urges restraint to avoid regional war. Iran's attack was in response to an Israeli airstrike in Syria. Most missiles and drones were intercepted by international forces. The U.S. emphasizes the need to avoid escalation while supporting Israel's defense.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 2:36 pm

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Shares of Elbit Systems, an Israel-based defense company, experienced an increase in trading following an attack by Iran on Israel over the weekend.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 1:15 pm

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Hub Cyber Security's stock price increased after Iran's drone attack on Israel, reflecting heightened concerns over cybersecurity threats.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 1:01 pm