Economy

The Situational Awareness hedge fund of Wall Street's new wunderkind went into a tailspin within a few days at the end of July. Market traders, fueled by rumors about the sale of its holdings in Anthropic and relying on unusual movements in the options market, took steps to distance themselves from the ticking bomb, and some even profited from the fall.

While Moderna grabbed headlines with a 177% jump, its partner Merck recorded its best day since 2009. Morgan Stanley has upgraded its recommendation, highlighting the company's potential beyond its flagship drug, despite the looming patent expiration.

The Forbes ranking of the world's richest people reveals the wealth of the top five, with all of them recording declines since the last trading day and losing money throughout the week.

The war between the US and Israel against Iran has severely hit Qatar's revenues from gas exports, leading to a cut of up to 30% in government budgets and about 85% in foreign aid. The IMF predicts that its economy will shrink by 8.6% this year.

US Treasury Secretary Scott Bessent is attempting to stabilize the $32 trillion US Treasury bond market. Investors are concerned about rising government spending and inflation amid the war in Iran.

Nasdaq rises by 0.7%, but indices are on track to break a three-week winning streak. Bitcoin is heading for its sharpest weekly gain since March 2023. US 10-year bond yield remains almost unchanged. Oil prices show a slight increase, with modest gains in Europe.

The Tel Aviv Stock Exchange closed with a clear upward trend in the two main indices. Among the rising stocks, Danya Cebus celebrates at the top with an increase of 5.77%, while Beit Shemesh stock recorded the highest decline of the day.

Just before it was due to publish its reports for the first half of the year, trading in Tomer Mazon shares was halted following the company's report on alleged problems in inventory management. Tomer Mazon joined the stock exchange about three months ago and is traded at a valuation of 138 million shekels.

Bezeq has upgraded its 2026 net profit and EBITDA forecasts due to improved business performance. The company now expects net profit to reach between 1.15 and 1.2 billion shekels.

Ray Shipping has ordered about 10 Chinese-made ships with a capacity of over 8,500 vehicles each. Xiaomi is expected to start exporting its cars to Europe in 2027, and Horizon Motors is launching Chinese FAW trucks in Israel. This week in the automotive industry.

The construction products company Inrom concluded the second quarter of 2026 with a net profit of 43 million shekels, a 12.5% increase compared to the same period in 2025. Quarterly revenues rose by 19% to 384 million shekels.

Key economic stories of the week: Rami Levy invests 225 million shekels in a new project, Max to compensate businesses, Victory's profits jump 150%, Moderna shares soar on Wall Street, plus Amos Luzon's deal, chaos at Ben Gurion Airport, and Itay Levi's real estate move.

Yesterday, the stock exchange closed with a mixed trend: the TA-35 index fell by 0.3%, while the TA-90 index advanced by 0.7%. Arbitrage gaps in dual-listed stocks are expected to weigh on the TA-35 index by about 0.41% at the opening. The dollar exchange rate stands at around 3 shekels, and oil prices are recording slight declines.

The Nikkei index is down 0.4%, the Kospi is up 0.8%, and the Hang Seng is climbing 0.7%. Japan's inflation rate reached 1.9% in July amid rising energy costs.

Data from maritime monitoring firm Kpler indicates a 50% drop in cargo ship traffic through the Strait of Hormuz. The figures exclude very large crude carriers (VLCC) and LNG tankers. A significant decline in vessel traffic was also recorded in the Bab el-Mandeb Strait.

The main indices closed with sharp declines after investors returned to focus on high financing costs and the huge US deficit, despite temporary calming attempts by the Treasury Secretary.

After nearly a decade, the chairman of the Tata Group has announced he will step down amid power struggles at the top. The battle over his successor comes as the group faces difficulties at Air India and turmoil in its technology business. The companies within the Indian business empire are worth a combined total of approximately $320 billion.

The rating agency Maalot has upgraded the bond rating of Shikun & Binui to A+. This decision comes ahead of a 350 million shekel bond series expansion as part of the company's debt reduction strategy.

A volatile trading day in Tel Aviv closed with a mixed trend, as alongside impressive gains in the energy sector, one of the most well-known food companies in Israel recorded a particularly sharp decline that surprised investors.

The strike that led today (Thursday) to widespread disruptions at Ben Gurion Airport caused damage to the economy estimated at this stage at 25 to 30 million shekels. This is a preliminary estimate that includes the direct and indirect costs of the shutdown of operations.

Phoenix becomes the third largest entity in the provident fund industry. Clal Insurance has its strongest month ever. Altshuler Shaham and Yelin Lapidot continue to lose money at a high rate.

Fuse manufacturer Arit Industries is recording a sharp decline of nearly 20% today, Thursday, following its latest financial report, making it the worst performer in the TA-125 index. This drop marks a total plunge of over 75% from its January peak, when the company reached an inflated market valuation of 7 billion shekels following the post-October 7 market frenzy.

Michpal Technologies is acquiring 70% of Mekano for approximately 66 million shekels, in a deal that values the company at about 100 million shekels. The acquisition includes a mechanism for contingent consideration and options to purchase the remaining holdings in the future.

A dramatic move by the US Treasury sent the dollar down and caused precious metals to jump by more than 4% in a day. Analysts are now estimating where the price will reach in the coming months.

The Fireman Hospitality group, operator of iconic Manhattan restaurants, has filed for bankruptcy protection. This marks the largest crisis in New York City's restaurant industry since 2020.

Bituach Yashir concluded the second quarter with a 38% increase in insurance service profits, despite a 6% decline in revenues. The improved profitability is attributed to portfolio optimization and operational efficiency.

Walmart stock is plummeting in pre-market trading in New York following the release of its financial reports. The company beat forecasts in both revenue and, most importantly, net profit, where the positive surprise stood at nearly 10%. However, what disappointed investors was the growth in traditional sales compared to expectations, which is sending the stock down by up to 6% in pre-market...

Alongside the geopolitical confrontation between Washington and Tehran, a "pistachio war" is unfolding, complicated by the climate crisis. Water scarcity and extreme weather conditions are becoming critical risk factors for investors.

The shekel-dollar exchange rate daily impacts decisions on industrial investment in Israel. The government should adjust tax policy to incentivize domestic production, not just exports.

Food importer Neto Melinda concluded the second quarter of 2026 with an 8.6% increase in revenue to 1.3 billion shekels, but net profit fell by 12.5% to 44.3 million shekels.

Doral summarized the second quarter of 2026 with accelerated growth in its US operations and an expanded project backlog. Consequently, the company has revised its 2027 revenue forecast upwards to 1.95 billion shekels.

The defense company controlled by the FIMI fund has moved from net debt to a financial surplus of 112 million shekels and holds an order backlog of 2.4 billion shekels. But the security moderation in the region poses a question: what will happen to demand when the arena calms down?

The two Israeli banks acting as intermediaries for the Palestinian banking system are expected to postpone the cessation of operations by several months, Globes has learned. This comes at the request of the Bank of Israel, with the goal of finding a permanent solution to prevent chaos.

The investment house of the Harel Group is expanding into the alternative sector and is acquiring 50.1% of the shares of a hedge fund management company that manages hundreds of millions of shekels. Who are the former managers behind the deal?

One Zero bank reported its financial results for the first half of 2026, showing a 27% reduction in losses to 84 million shekels. Revenue growth was driven primarily by increased client activity in the securities market.

The Sderot-based fuse manufacturer is set to distribute profits from the sale of shares in its subsidiary to shareholders, following a weak quarter in which it reported a 36% decline in revenue and an 85% drop in net profit. The stock is falling sharply in Tel Aviv trading.

While the dollar weakens against the shekel, another leading currency is recording an unusual strengthening of more than 3%, creating a surprising offsetting mechanism that directly affects investors and savers in Israel.

Ofer Yanai's energy company summarizes the half-year with project revenues of approximately 665 million shekels, more than double the corresponding period. Nofar forecasts aggregate revenues of approximately 6.4 billion shekels in a representative year from yielding, under-construction, and pre-construction projects, but recorded a bottom-line loss of approximately 60 million shekels.

Garden County Health Services in the USA has filed for bankruptcy following financial difficulties. CEO Sam Pennington reassured that medical services will continue without interruption.

The supermarket chain concludes the first half of 2026 with a 150% jump in net profit and reveals the new and surprising growth engine that includes the sale of iPhones and electrical appliances.