Five things to know ahead of the trading day
The daily market review by Globes: The trading day is expected to open against the backdrop of a Democratic victory in the US midterm elections, sharp declines in technology stocks, and Trump's statement on halting aid to Israel. Dual-listed shares return with a slight negative arbitrage gap. AMD reported strong earnings.
The trading day is expected to open against the backdrop of a Democratic victory in the US midterm elections and gaining control of Congress, raising concerns of stricter regulation and leading to a sharp drop in technology and AI stocks in Asia and futures in New York. Meanwhile, President Trump's statement about an agreement with Prime Minister Netanyahu to halt US military aid to Israel until the end of the year increases economic uncertainty. Dual-listed shares will return to trading with a slight negative arbitrage gap. The Tel Aviv Stock Exchange closed the previous trading day with a mixed trend. The chief economist of Mizrahi Tefahot Bank, Ronen Menachem, estimates that the cessation of aid may create an opportunity for a change in Israel's economic status. Sharp declines are recorded in Asia led by the Nikkei, and futures in New York are in the red. The VIX fear index surged above 20 points. AMD reported strong third-quarter earnings with 45% revenue growth.