At the close of June 8, the Tadawul All Shares Index(TASI.SA) increased by 0.41%, closing at 10973.08 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) down by 1.04%, closing at 22750.48 points.

S&P 500 index(SPX.US) futures rose early Tuesday after a rally in chip stocks boosted the index.

Futures tied to the broad market index were up about 0.26%, while the NASDAQ-100(NDX.US) futures rose 0.55%. Dow Jones Industrial Average(DJI.US) futures advanced 62 points, or 0.12%.

Chip stocks led the S&P 500 higher in regular trading Monday, with the index rising 0.3%. The tech-dominant Nasdaq Composite climbed 0.86%. Both averages clawed back some of their losses from last week’s tech rout. The blue-chip Dow, on the other hand, bucked the trend to shed 80.77 points, or 0.16%.

Although the artificial intelligence and chip trade has been the primary market driver on Monday and in other recent sessions, Brian Kersmanc, portfolio manager at GQG Partners, offered some skepticism over the trend’s longevity.

“What the issue is on a longer-term basis is sustainability,” Kersmanc said on CNBC’s “Closing Bell: Overtime” on Monday afternoon. “So, how much further does this sustain on a longer-term basis?”

“At the end of the day, a lot of these chip names are commodities,” the portfolio manager added. “And if you look at it in terms of a commodity, when you have a rapid price increase that you had — in some areas of memory, you had a 15x price increase over the course of last year or so — if I were to recontextualize that … a 15x increase in energy, go from $60 a barrel to $900 a barrel, how many energy stocks would people be buying right now?”

Iran on Monday halted military strikes against Israel, but warned it would resume attacks if Israeli forces continue operations in Lebanon, Tehran’s foreign ministry told CNBC on Monday. Hours later, Israeli Prime Minister Benjamin Netanyahu said the conflict with Iran and Hezbollah was “not yet over.”

Donald Trump Maintains Ongoing US Blockade

US President Donald Trump stated that ongoing negotiations continue and a proposal for an Iran agreement could be presented within days, as the effective US port blockade mounts economic pressure. Meanwhile, Iranian official Ibrahim Azizi affirmed that Iran does not reject advancing talks but demanded the US alter its conduct and demonstrate sincerity regarding key disputes and frozen assets.

SpaceX Historic IPO Draws Over-Allotment Demand

SpaceX(SPCX.US)'s historic initial public offering has drawn heavy oversubscriptions from eager market participants ahead of its Wednesday close, according to sources. The record-shattering capital raise seeks to issue 555.6 million shares priced at $135 each to secure roughly $75 billion in fresh proceeds. Investment underwriters plan to freeze institutional bookbuilding pipelines at 4:00 PM New York time, locking in a projected corporate valuation near $1.8 trillion.

OpenAI Confirms Secret IPO Filing

OpenAI announced it has secretly submitted an S-1 registration statement for an initial public exhibition, though the exact IPO timeline remains undetermined. The artificial intelligence company stated that the confidential filing provides future listing flexibility while it weighs the benefits of remaining private. The move follows similar public market preparations by its core rival Anthropic.

KSA Stocks

ADES Recommends 100% Capital Increase, Proposes One-For-One Bonus Share

Ades Holding Co.(2382.SA) announced its board's recommendation to increase its capital by 100% to SAR 2,258,125,026 through the issuance of bonus shares. The expansion will capitalize SAR 1,129,062,513 from the share premium account, granting one bonus share for every share owned. The move aims to support long-term growth strategy and remains subject to shareholder and regulatory approvals.

Saudi Aramco Concludes General Assembly Voting

Saudi Arabian Oil Co.(2222.SA) held its Ordinary General Assembly Meeting virtually with a 98.06% shareholder attendance rate. The assembly reviewed and discussed the Board of Directors Report, the Financial Statements, and the Auditor's Report for the financial year ended December 31, 2025. Board Chairman HE Yasir O. Al-Rumayyan and all committee chairs attended the session.

Saudi Awwal Bank Buys 5.7M Shares

Saudi Awwal Bank(1060.SA) completed the purchase of 5,743,651 of its shares for SAR 196,430,552.03 to allocate them within its Employees Stock Incentive Shares Plan. The buyback achieved an average purchase price of SAR 34.1996 per share. This follows approval from the Extraordinary General Assembly meeting held on April 21, 2026.

USA Stocks

US Stock Futures Rise Ahead of Open

NASDAQ-100(NDX.US) Index futures climbed nearly 0.6% by 7:20 AM Saudi time, leading a broader rise in US index futures. The semiconductor and memory sectors extended their overnight gains, driven by QUALCOMM Incorporated(QCOM.US) which surged over 4%. Other notable movers included Micron Technology, Inc.(MU.US) and Intel Corporation(INTC.US), which both rose 3%, while Marvell Technology(MRVL.US) gained over 3%.

Apple Taps Google Gemini for AI

Apple Inc.(AAPL.US) unveiled its next-generation artificial intelligence platform, featuring a revamped Siri AI powered by Alphabet Inc. Class A(GOOGL.US)’s Google Gemini models. Announced at WWDC by software chief Craig Federighi, the new architecture enables contextual understanding and app operations across device and cloud environments. Apple also introduced macOS Golden Gate, adding a slider to adjust Liquid Glass visual effects.

Tesla Confirms Roadster Launch Timeline

Tesla Motors, Inc.(TSLA.US) shares rose over 4% in the previous trading session following confirmation from Chief Designer Franz von Holzhausen that the next-generation Roadster electric supercar is entering its official launch countdown. The vehicle is scheduled to debut within the coming weeks, potentially positioning the public unveiling between late June and early July.