Tel Aviv Stock Exchange Awaits Weekly Close After Wall Street Declines

The Tel Aviv Stock Exchange (TASE) is set to open following a negative session on Wall Street and is approaching a weekly decline. The TA-35 index has fallen 0.5% since the start of the week, while the broader TA-125 index is down 1%. On Wall Street, the Dow Jones dropped 0.9%, the S&P 500 declined 0.2%, and the Nasdaq slipped slightly by less than 0.1% in the previous trading session.

U.S. 10-year Treasury yields rose by 5 basis points yesterday and added another point this morning, reaching 4.68%. Meanwhile, Israel's 10-year bond yield stands at 3.80%. The local oil and gas sector is expected to respond to continued increases in oil prices, with Brent crude up 1.5% and WTI rising 1.2% following a 3% gain yesterday.

Apollo Power released its financial results and announced the retirement of Chairman Yom Tov Samia after eight years in the role. Yesterday, the TASE closed with modest gains: the TA-35 increased by 0.3%, the TA-125 rose 0.2%, and the banking sector climbed 1.3%, led by Bank Leumi which surged 2.5%. Ormat Technologies' stock jumped 9% after reporting earnings, leading the TA-35, while Strauss Group shares fell 3.3%, marking the index's weakest performer.