Tel Aviv Stock Exchange Awaits Opening Amid Wall Street Gains and Oil Price Drops
The Tel Aviv Stock Exchange is set to open following positive closes on Wall Street and sharp declines in oil prices. On the previous day, the Dow Jones and S&P 500 indices rose by 0.3%, while the Nasdaq increased by 0.7%. Meanwhile, oil prices, which fell by 4% yesterday, continued to drop by over 2.5% this morning, potentially impacting energy sector stocks in Tel Aviv.
The decline in oil prices is expected to ease inflation pressures, leading to significant drops in US Treasury yields. The 10-year US Treasury yield fell by 8 basis points to 4.63%, the 30-year yield dropped by 6 basis points to 5.16%, and the 2-year yield decreased by 5 basis points to 4.18%. Israeli 10-year bond yields stand at 3.84% this morning.
In corporate news, several companies including Harel, Ashtrom Group, Partner Communications, and Tiv Taam are scheduled to release their financial results today.
Separately, the Israeli Ministry of Defense has demanded compensation from the drone manufacturer Aerodrome following the company's failure to meet contract terms last year. The ministry sent a warning letter indicating its intention to claim approximately 30 million shekels in damages but expressed willingness to negotiate to avoid legal proceedings.
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