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Israel-Hamas war: Oil prices & defense stocks surge on war fears
Event Description
Ended
Hamas launched a surprise attack against Israel on October 7th, which then formally declared war. Despite the worries about the possible aft Show More
Hamas launched a surprise attack against Israel on October 7th, which then formally declared war. Despite the worries about the possible aftermath of violence in the Middle East, the stock market shifted from early losses to gains on Monday, due to positive news on interest rates.

What to watch?
● Traders are buying up oil on fears the fighting will continue as a proxy war with Iran. The price of Brent crude shot up $3.10 to $87.68 a barrel.
Defense stocks were the broad market index's biggest gainers on the first trading day after the conflict. $L3Harris Technologies (LHX.US)$climbed 9.98%. $Lockheed Martin (LMT.US)$ and $General Dynamics (GD.US)$ rallied more than 8%

Thoughts?
Do you think the conflict will have a long-term impact on financial markets?
Would you consider this as a trading opportunity?
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