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The Bank of Korea unexpectedly kept its interest rate unchanged at 3%, while market expectations were for a drop to 2.75%.On January 16, the worlds largest asset management company BlackRock (BLK.N) announced on Wednesday that its fourth-quarter profit jumped 21%, the stock market boom increased commission income, and its managed assets also hit a record high of $11.6 trillion. Its assets in the same period last year and the third quarter were $10.01 trillion and $11.48 trillion, respectively. BlackRocks long-term funds net inflows in the fourth quarter were $201 billion. The overall net inflow of funds reached $281.4 billion, higher than $95.6 billion in the same period last year.On January 16, CICCs research report stated that the month-on-month increase in the US core CPI in December slowed from 0.3% last month to 0.2%, and the year-on-year growth slowed from 3.3% to 3.2%, both lower than market expectations. The non-rental service inflation (supercore), which the Federal Reserve is most concerned about, has fallen, and core goods and rental inflation have remained mild, with no signs of re-acceleration. Despite strong non-farm payrolls last Friday, inflation continued to slow, indicating that the economy has not shown signs of overheating. This is good news. U.S. Treasury yields fell and U.S. stocks rebounded. Maintaining the previous judgment that the United States is expected to achieve a "Goldilocks" economy, the market may have overestimated the upside risks of U.S. inflation. The Federal Reserve is likely to skip the interest rate cut in January, and there is still a possibility of a rate cut in March. Maintain the view that there may still be two interest rate cuts in the first half of the year.SK Hynix shares rose 4.9%, tracking gains in U.S. chip stocks overnight.U.S. Treasury Secretary Yellen: Trumps plan to impose new tariffs will lead to higher costs for U.S. goods and services.

At market close, Israeli stocks are up; the TA 35 is up 1.09 percent

Aria Thomas

Jul 11, 2022 10:58

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Following Sunday's closing bell, the Biomed, Oil & Gas, and Banking sectors contributed to a surge in Israel's stock market.


At the close of trading in Tel Aviv, the TA 35 rose 1.09 percent.


Maytronics (TASE:MTRN) had the best performance on the TA 35 throughout the session, increasing 3.91 percent or 184.00 points to end at 4,890.00. Bank Hapoalim (TASE:POLI) climbed 2.92 percent, or 87.00 points, to end trading at 3,065.00, while Strauss Group (TASE:STRUS) gained 2.58 percent, or 228.0 points, to 9,050.00.


Bezeq Israeli Telecommunication Corp Ltd (TASE:BEZQ) ended the day with the lowest performance, down 1.88 percent, or 10.20 points, to 532.80. Teva Pharmaceutical Industries Ltd (TASE:TEVA) finished at 2,615.00, down 0.30 percent, or 8.00 points, whilst Shapir Engineering Industry (TASE:SPEN) closed at 2,885.00, down 0.14 percent, or 4.00 points.


On the Tel Aviv Stock Exchange, advancing stocks outnumbered declining ones by a ratio of 346 to 144, with 34 stocks closing unchanged.


The price per barrel of crude oil for delivery in August increased 2.01%, or $2.07, to $104.80. Brent oil for September delivery jumped 2.39 percent, or 2.50 cents, to $107.15 per barrel, while the August Gold Futures contract increased 0.07 percent, or 1.20 cents, to $1,740.90 per troy ounce.


The USD/ILS exchange rate decreased 0.21 percent to 3.46, while the EUR/ILS exchange rate stayed unchanged at 3.53.


US Dollar Index Futures were 0.25 percent down at 106.69.


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