Breakwave Tanker Shipping ETF

Shipping ETFs were jumping amid escalating geopolitical tensions, on pace for their best day in nearly a month.

Here's the risk to global trade posed by attacks on ships in the Red Sea.

Despite headwinds, this shipping industry stands to benefit from favorable factors such as the reopening of the Chinese economy since early 2023 and an improvement in the demand for goods and commodities compared to the lows experienced during the pandemic.

Though October is historically upbeat, this year the month tricked investors.

Wall Street delivered a moderate performance last week.