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Economy05:04 · 53m ago

Tel Aviv Stock Exchange Reopens After Holiday, Eyes Wall Street Rally

By שיר רייטרOngoing story · 12 updates
Translated & summarized from Calcalist by baba
The story · English

The Tel Aviv Stock Exchange is set to resume trading on Sunday, following a short week that included the Yom Kippur holiday. Investors will be closely watching the impact of a significant rally on Wall Street, particularly in artificial intelligence (AI) chip stocks, which saw substantial gains overnight. Asian markets are experiencing moderate increases this morning.

The surge on Wall Street was fueled by news that Meta's AI agent, Muse, launched on September 8th, quickly became the top free app on the US iPhone charts within ten days. This development propelled major tech stocks, with Intel jumping 12.1%, Meta rising 11.4%, and AMD climbing 10% to reach a market capitalization of $1 trillion.

These gains contributed to a strong performance on Wall Street. The S&P 500 index increased by 1.5%, marking its best day since August 4th. The Nasdaq Composite saw a significant jump of 2.3%, achieving its first closing record since June. The Dow Jones Industrial Average also posted gains, rising by 0.7%.

Read the original at Calcalist
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