Global Markets React to U.S.-Iran Talks as Wall Street Closes Mixed
Global markets reacted to geopolitical updates and U.S.-Iran talks, while Wall Street saw mixed trading and Meta rallied on optimism surrounding its new AI assistant, Muse.
Global markets opened the trading week with geopolitical developments taking center stage, following statements by President Donald Trump regarding a meeting between U.S. and Iranian officials on the sidelines of the UN General Assembly. Oil prices and U.S. Treasury yields retreated, with the 10-year yield hovering around 4.95%.
Wall Street and Tech Sector
New York indices closed mixed, with the Nasdaq climbing 0.4% to a record high, while the S&P 500 finished flat and the Dow Jones slipped 0.4%. Memory chip maker SanDisk surged nearly 7% following a buy recommendation and a $2,400 price target from Rosenblatt Securities.
Tel Aviv Stock Exchange
The Tel Aviv Stock Exchange closed mixed, led by a 1.8% gain in the technology index driven by dual-listed chip stocks. Conversely, the Tel Aviv Oil and Gas index fell 2.3% amid declining global oil prices. In corporate news, the Competition Authority demanded that Union Investments sell its 35% stake in Super-Pharm to proceed with the acquisition of Cal.
Meta and Artificial Intelligence
Meta Platforms is on track to record its strongest month in over a decade, buoyed by optimism surrounding its new AI assistant, Muse. Analysts highlight its consumer-facing potential and robust monetization opportunities.
