Tel Aviv Stock Exchange Rises Ahead of US Interest Rate Decision

The Tel Aviv Stock Exchange concluded trading on a positive note, with its main indices experiencing gains. The TA-35 index climbed 1.32%, and the TA-125 index rose 1.04%. The TA-90 index, however, closed unchanged. Among sectoral indices, technology led the advance with a 1.7% increase, followed by overseas dividend stocks, which added 1.53%. Other notable gains were seen in cleantech (1.48%), renewable energy (1.47%), and banking and insurance (1.46%). Conversely, some indices declined, including food (down 0.6%), software (down 0.25%), oil and gas (down 0.09%), and consumer goods (down 0.03%).

Among individual stocks, Doral Energy surged 6.23%, Electra Real Estate rose 5.69%, and Tower Semiconductor gained 5.68%. Next Vision was up 4.94%, and Neto Melinda added 4.77%. On the downside, Nayax fell 4%, Torfaze dropped 3.94%, Max Stock weakened by 3.75%, Eyalon lost 2.41%, and Strauss declined 2.37%.

Internationally, investor focus is on the US Federal Reserve's upcoming interest rate decision. The market anticipates a 0.25% rate hike with approximately 90% probability, which would bring the target range to 3.75%-4.00%. These expectations have been bolstered by recent inflation data and concerns about ongoing inflationary pressures. The yield on US 10-year Treasury bonds has surpassed 5% this week. As the expected rate hike is largely priced in, attention is expected to shift to the Federal Reserve's future projections and Chairman Jerome Powell's statements regarding the future path of interest rates.