Tel Aviv Stocks Brace for Opening After Tech Rally, Nvidia Woes
Translated & summarized from Calcalist by baba
The Tel Aviv Stock Exchange aims to recover from yesterday's sharp declines, especially in banks, following a strong tech performance in New York. However, Nasdaq futures are down due to potential leadership changes at Nvidia, whose stock fell sharply. Oil prices are also down, impacting local energy stocks. Delta Galil released its results, and Afi Assets is expected to report today.
The story in 5 lines · by baba
- Tel Aviv stocks aim to recover from previous day's losses, particularly in the banking sector.
- New York tech stocks saw strong gains, but Nasdaq futures are down due to Nvidia concerns.
- Nvidia's stock dropped 8.6% after-hours amid reports of potential CEO Jensen Huang ouster.
- Local oil and gas stocks are expected to fall following a 1.5% drop in crude oil prices.
- Delta Galil released its financial results, and Afi Assets will report its Q3 earnings today.
The Tel Aviv Stock Exchange is poised to attempt a recovery from significant declines experienced on the previous day, particularly within the banking sector. The TA 35 index fell by 1%, the TA 125 by 0.6%, and the banking index plunged 3.6%. This comes against a backdrop of strong gains in New York's technology stocks, with the Nasdaq Composite rising 1.6%, the S&P 500 up 1.3%, and the Dow Jones increasing by 0.5%.
However, futures for the Nasdaq are currently down 0.9% this morning, influenced by reports of a potential ousting of Nvidia CEO Jensen Huang. Nvidia's stock reacted sharply, dropping 8.6% in after-hours trading. Local oil and gas stocks are expected to reflect this morning's approximately 1.5% decrease in Brent and WTI crude oil prices.
In the bond market, the yield on 10-year US Treasury bonds stands at 4.99%, while the yield on 10-year Israeli government bonds is at 4.10%.
In corporate news, Delta Galil released its financial results after the market close yesterday. Afi Assets is scheduled to publish its third-quarter earnings report later today.
