The first half of 2024 was marked by mixed results in the stock markets around the world. While leading indices on Wall Street reached record highs, the Tel Aviv Stock Exchange painted a less impressive picture compared to its U.S. counterpart.
In the U.S., the Nasdaq index climbed by 17%, and the S&P 500 index rose by approximately 15%. However, the Dow Jones index saw a more modest increase of 3.7%. On the other hand, the Tel Aviv 35 index was up by about 6% since the beginning of the year, while the Tel Aviv 90 index experienced a 3.6% loss. The TA 125 index saw a rise of 3.2%.
Among industry indices on the TASE, some success stories emerged, including Beamer Imaging, which saw its stock price increase by an impressive 260% in the first half of the year. Another standout was Zim, which recovered from a low point in 2023 and rose by an equally impressive 124% since then. Unfortunately, companies like LivePerson, SolarEdge, and Productivity Network experienced significant declines in their stock prices during this period.
In contrast to Israel’s successes and struggles, companies like Super Micro Computer and Next Vision in the U.S. recorded remarkable stock price increases during this period. However, giants like Intel struggled with declining returns in America’s chip industry sector that drove demand for chips worldwide due to AI technologies’ growing importance in various industries such as healthcare and finance among others.
Moreover, real estate was one sector that saw negative returns globally during this period.
Overall, despite remarkable gains and significant losses across different industries and indices worldwide, investors experienced a range of outcomes that highlighted both successful stories and disappointments in global stock markets over this period’s first half.