Tel Aviv Stock Exchange Awaits Opening Amid Mixed Wall Street Close and Sharp Tech Stock Drops

The Tel Aviv Stock Exchange (TASE) is set to open shortly following a mixed session on Wall Street, which included significant declines in semiconductor stocks. The Nasdaq index fell by 0.8% yesterday, while the Dow Jones rose by 1.1%, and the S&P 500 remained stable. New York markets are closed today for Independence Day.

In commodities, Brent crude oil prices increased by 0.7% and WTI by 0.5%. The yield on the 10-year US Treasury bond stands at 4.49%, while Israel's 10-year bond yield is at 3.70%. Dual-listed semiconductor stocks are returning to TASE with substantial negative arbitrage gaps: Tower Semiconductor shows a 7.6% negative gap, Camtek 5.5%, and Nova 5.7%. Other major dual-listed stocks also exhibit negative arbitrage, though to a lesser extent.

Smaller stocks are experiencing more severe drops, notably Alarum, which has a 21% negative gap. Alarum's shares plunged 20.8% on Nasdaq yesterday and continued falling by 38.5% in after-hours trading. This decline follows a Bloomberg report revealing that the FBI is investigating NetNut, Alarum's Israeli subsidiary, on suspicions that it connected home internet devices to its network without customer knowledge or consent. The connections allegedly involved malicious software enabling device takeover.