Five things to know ahead of the stock market opening
Ahead of the Tel Aviv Stock Exchange opening, the official election results show a lead for the coalition bloc (55 seats) and raise the possibility of a political stalemate. The shekel weakened sharply against the dollar after strengthening yesterday. Wall Street saw a positive trend led by chip stocks. The Fed is expected to keep interest rates unchanged.
Globes publishes a comprehensive review ahead of the Tel Aviv Stock Exchange opening, following Election Day when it was closed. The official results raise the possibility of a political stalemate, with a significant lead for the coalition bloc (55 seats based on 50% of the vote). The shekel weakened sharply against the dollar by about 1% after strengthening yesterday, trading around 3.08 shekels. BlackRock's EIS ETF fell about 1.7% in after-hours trading, providing an initial indication of the local stock market's reaction. Dual-listed stocks are expected to return with a slight positive arbitrage gap of about 0.2%. Wall Street continued its positive momentum, led by chip stocks. The Federal Reserve is expected to keep interest rates unchanged at 4%, and Microsoft and Alphabet will report financial results after the market close. In Asia, the Seoul stock exchange surged over 6% following strong earnings from SK Hynix.