2023-12-30 19:08:00
Stock Market Ends 2023 in Green Despite Challenging Year
Tomorrow marks the last trading day of 2023, and it’s been a year of challenges for the stock market. Despite the difficulties, the market managed to finish in the green with gains of about 3%, and banks saw an increase of about 10%. However, these gains are overshadowed by the surges on Wall Street, where the S&P rose by 24%, the Dow by 13%, and the Nasdaq by a significant 44%.
In other news, Bizportal is looking to fill open positions for an editor/reporter and secretarial positions. The job can be part-time and offers flexibility in working hours, with the option to work from home. Experience in writing and basic familiarity with the capital market are preferred for these positions.
On the trading front, the dual stocks return from Wall Street with a negative effect of about 0.5% on the local indices. Teva and Ormat Techno both saw negative returns, while Nice and CL were also affected, indicating a challenging end to the year.
Looking ahead, the Bank of Israel is set to announce the interest rate on Monday. Disappointment is expected for those hoping for a rate reduction, as leading banks and investment houses have postponed their estimates for lowering interest rates from January to February based on briefings from the Bank of Israel.
Criticism is mounting against the Bank of Israel’s handling of the economy, with claims that it fails to understand and internalize the true state of the economy. The governor is also accused of hiding behind the government and the finance minister, using budget cuts as a condition for interest rate reductions.
As the year comes to a close, BizPortal is also calling for votes to choose the person of the year in the capital market, as well as predictions for what will happen in the markets in 2024.
The stock market data is displaying with a delay of about 15 minutes, leaving investors waiting for the latest information before the year concludes.
The capital market continues to present challenges, and the year looks to end on a complex note, leaving investors and analysts eagerly awaiting the new year and what it will bring.
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