Most Important News

1. ADES Contract Adds 178 Million Backlog
2. SanDisk Joins Elite Nasdaq 100 Index
3. Major Banks Begin Q1 Earnings Cycle

At the close of 09 April, the Tadawul All Shares Index(TASI.SA) up by 0.04%, closing at 11343.17 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.17%, closing at 22671.39 points.

The S&P 500 index(SPX.US) fell slightly on Friday, but the index managed to post a solid weekly gain as traders kept an eye on the fragile two-week ceasefire between the U.S. and Iran.

The broad market index dropped 0.11% to end at 6,816.89, while the NASDAQ(IXIC.US) moved higher by 0.35% and closed at 22,902.89, bolstered by gains in key semiconductor stocks such as NVIDIA Corporation(NVDA.US) and Broadcom Limited(AVGO.US). The Dow Jones Industrial Average(DJI.US) declined 269.23 points, or 0.56%, ending at 47,916.57.

Still, the S&P 500 added about 3.6% this week, and the Nasdaq rose about 4.7% in the period. The Dow, meanwhile, gained 3% on the week. The indexes posted their best weekly performances since November.

US-Iran Islamabad Negotiations Hit Deadlock

US-Iran negotiations in Islamabad stalled after a 14-hour session, failing to resolve sharp disputes over the Strait of Hormuz and 6 billion USD in frozen assets. Disagreements intensified as Iran demanded transit fees while the U.S. declared uranium enrichment a "red line." Simultaneously, regional stability remains precarious as Israel struck 200 Hezbollah targets and the U.S. Navy initiated minesweeping operations.

Saudi Energy Facilities Plunge Under Attacks

Multiple attacks on Saudi Arabian energy facilities caused a loss of 700,000 barrels per day in East-West Pipeline throughput and reduced production capacity by 600,000 barrels. These strikes targeting ARAMCO refineries and processing sites have depleted operational inventories. The resulting supply shortfall threatens global market stability and limits the capacity of consuming nations to respond to ongoing volatility.

KSA Stocks

ADES Contract Adds 178 Million Backlog

Ades Holding Co.(2382.SA) secured a one-year contract extension with Chevron Nigeria Limited for the Shelf Drilling Scepter jackup rig, adding SAR 178 million to its backlog. The agreement, starting July 2026, reinforces the group’s strategy to scale operations in high-growth international markets. This expansion beyond its GCC base capitalizes on favorable global day-rate dynamics and sustained offshore tendering activity.

GIG Proposes 1.2 SAR Cash Dividend

Gulf Insurance Group(8250.SA) (GIG) recommended a 1.2 SAR per share cash dividend for 2025, totaling 63,000,000 SAR in distributions. This 12% par value payout received a no-objection from the Insurance Authority. The proposal awaits General Assembly approval, after which payments will commence, though foreign investors are subject to a 5% withholding tax.

USA Stocks

SanDisk Joins Elite Nasdaq 100 Index

Sandisk Corporation(SNDK.US) will join the NASDAQ-100(NDX.US) on April 20, 2026, replacing Atlassian(TEAM.US). Driven by a 200% year-to-date surge fueled by the AI storage supercycle, the inclusion reflects a strategic market shift toward hardware infrastructure. Analysts have raised price targets to 1,250 USD, anticipating increased liquidity and institutional demand from funds like PowerShares QQQ Trust,Series 1(QQQ.US).

Nvidia Rises Lifting Tech Sector Sentiment

NVIDIA Corporation(NVDA.US) rose 2.57% and Amazon.com, Inc.(AMZN.US) gained 2.02%, leading a fragmented tech sector where Microsoft Corporation(MSFT.US) fell 0.59%. Optical communication stocks dominated as Astera Labs(ALAB.US) soared 15% and Applied Optoelectronics, Inc.(AAOI.US) soared 13%. This rotation toward hardware infrastructure underscores a market-wide pivot away from legacy software toward advanced networking components and high-performance AI computing assets.

Semiconductor Sector Achieves Eight-Day Rally

The semiconductor sector achieved an eight-day winning streak, driving a record weekly performance divergence against software. UBS reports that accelerating AI budgets are "crowding out" non-AI spending, causing project delays and slower SaaS growth. Simultaneously, Treasury Secretary Bessent and Fed Chair Powell addressed cybersecurity risks from Anthropic models, triggering negative sentiment across the financial and insurance sectors.

Major Banks Begin Q1 Earnings Cycle

Goldman Sachs Group, Inc.(GS.US) initiates the 2025 first-quarter earnings cycle next Monday, followed by reports from JPMorgan Chase & Co.(JPM.US), Citigroup Inc.(C.US), and Wells Fargo & Company(WFC.US). Analysts expect strong performance as elevated volatility drives trading gains for these six major financial entities. The season marks a strategic pivot for Wall Street, refocusing investor sentiment on underlying corporate health over geopolitical tensions.