Stock markets on Tel Aviv’s exchange open, backed by global optimism and rising Asian indices following a sharp chip-stock recovery on Wall Street, according to Globes.
Diplomatic efforts eased inflationary pressures across markets as U.S. crude dropped 1.15% to $85.86 per barrel. Brent crude weakened roughly 1.1% to trade near $91.55 per barrel, Globes reported.
Tower Semiconductor led the chip sector rebound with a 2.1% positive gap on the Tel Aviv 35 index, alongside Camtek at 0.7% and Nova at 0.3%, according to Globes. Dual-listed shares returned with a weighted positive arbitrage gap of about 0.4%.
Ormat Technologies opened with a 2.1% gap, Palo Alto Networks shares returned with a 1.9% positive gap, and ICL returned up 0.6%, Globes noted. Teva and Nice both registered fractional negative gaps of 0.1%.
AudioCodes recorded a 5.1% gap and CompuGroup Medical posted a 2.8% positive gap outside the leading index. In the prior session, the Tel Aviv 35 index climbed 1.8% and the Tel Aviv 90 index surged 2.6%, driven by communications and insurance sectors jumping about 3.9% each.
South Korea’s Kospi index surged 4.8% after trading was temporarily halted due to excess demand, leading Asian exchanges traded firmly in positive territory, according to Globes. Japan’s Nikkei index jumped 3.2% above the 60,000-point threshold, Hong Kong added 0.5%, and Shanghai edged up 0.2%.
Dow Jones contracts rose 0.4%, S&P 500 contracts added 0.2%, and Nasdaq futures advanced roughly 0.1% as Wall Street futures pointed higher ahead of the opening bell, Globes reported.
When a lot of the investors are not ready to take risk really right towards the end of the year, we struggle to find a lot of positive catalysts for equities in the short term,
said Chris Senyek, chief investment strategist at Wolfe Research, as cited by CNBC and reported by Globes.
Citigroup adjusted its US technology sector recommendation from overweight to neutral, anticipating potential near-term pullbacks in artificial intelligence shares while maintaining a 2027 S&P 500 target of 8,100, Globes noted.
Brent recorded its steepest weekly drop since the onset of the COVID-19 pandemic in April 2020, falling 16% to a two-month low as crude oil markets absorbed sharp weekly losses, Globes reported. Diplomatic efforts to resolve conflict involving the U.S. and Iran followed the pullback, backed by Democratic mid-term election results.
President Trump continues to suggest he wants to avoid further escalation with Iran, keeping downward pressure on crude prices, said Ryan McKay, senior commodities strategist at TD Securities, as cited by Bloomberg and reported by Globes.
KCM Trade chief analyst Tim Waterer described Trump’s remarks as more measured, while questioning whether the mid-term elections produced a lasting change in conflict approach, according to Globes.
Economists projected a 0.3% monthly headline CPI increase alongside an annual inflation rate of 3.9% as attention turned toward U.S. macro data releases, with the October Consumer Price Index scheduled at 15:30 Israel time, Globes reported.
