Tel Aviv Bank and Construction Indices Rise in Thursday Morning Trading

Tel Aviv's bank and construction indices rose in Thursday morning trading on October 29, while the main share indices were mixed. The TA-35 gained 0.1%, the TA-90 added 0.3%, and the broader TA-125 was approximately unchanged. The banking index climbed 1.2%, and the construction index advanced 0.9%. The construction rise followed a decline of almost 9% on Wednesday. The TA-90 had lost about 4.47% in that session. Concern over interest rates and financing costs remaining high, with pressure on developers and homebuyers, formed part of the reported backdrop to the construction sector's weakness. Overseas markets offered a mixed setting. On Wednesday, the Dow Jones Industrial Average rose 0.19%, the S&P 500 added 0.28%, and the Nasdaq gained 0.27%. By Thursday morning, Nasdaq futures were down almost 1% and S&P 500 futures were 0.2% lower. South Korea's Kospi fell 2.6%, while Japan's Nikkei rose 0.3%. The U.S. Federal Reserve had kept its federal funds target range at 3.75% to 4% on October 28. Its committee said, "Inflation remains elevated." The decision passed 10 to 2, with Lisa D. Cook and Beth M. Hammack preferring a quarter-point increase. The Israeli index figures describe morning trading rather than Thursday's closing results.