The global market rally was driven by the price of oil surging 5% on concerns of a prolonged war between Hamas and Israel. While no immediate impact was felt on the oil supply and demand front, global economies are factoring in prolonged periods of geopolitical tensions which caused the price of oil to surge.

Locally, we are seeing the release of first quarter FY24 trading updates, which had investors making some moves this week.

In this week's wrap, Grady covers:

• (0:34) companies that were sharply sold off,
• (1:06) the Israel-Hamas war’s effect on oil flows and output,
• (1:57)  China’s material stimulus package,
• (2:43) Air New Zealand (ASX:AIZ), Redbubble (ASX:RBL), and Tabcorp (ASX:TAH),
• (4:54) the best performing stocks in the ASX200,
• (5:57) the most traded stocks & ETFs by Bell Direct clients, and
• (6:29) five economic news items to watch out for.