Most Important News

1. BAAN Eliminates Losses Using SAR 525M Premium
2. Jensen Huang Joins Trump China Visit
3. Intel And SanDisk Tumble Over 6%

At the close of May 12, the Tadawul All Shares Index(TASI.SA) down by 1.07%, closing at 11039.23 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) up by 0.70%, closing at 22794.54 points. 

U.S. stock futures broadly rose early Wednesday as traders looked ahead to the release of another major inflation report.

S&P 500 futures gained 0.1% and Nasdaq 100 futures added 0.27%. Futures tied to the Dow Jones Industrial Average was flat.

During Tuesday’s session, both the S&P 500 index(SPX.US) and Nasdaq(NDAQ.US) pulled back from their records. The broad market index slipped 0.16%, while the tech-heavy Nasdaq lost 0.71%. The Dow Jones Industrial Average(DJI.US) bucked these losses, adding 56.09 points, or 0.11%.

Stocks were weighed down by losses in the technology sector and higher oil prices after President Donald Trump on Monday called the month-old ceasefire between the U.S. and Iran “unbelievably weak” and “on massive life support” after rejecting an “unacceptable” counterproposal from Tehran to end the war. Investors were also digesting a hotter-than-expected annual consumer price index reading for April which saw consumer prices rise at their highest rate in about three years.

Saudi Market Prepares For IPOs Surge

Multiple companies, including delivery app Ninja and Olayan's Health Water Bottling, are preparing for Saudi listings. Ninja has selected banks for a potential $1 billion IPO, while PIF-backed ArcelorMittal Tubular Products Jubail appointed JPMorgan and HSBC as advisers. This surge reflects a broader trend of sectors like telecommunications and manufacturing seeking regulatory approvals for imminent market debuts.

Jensen Huang Joins Trump China Visit

NVIDIA Corporation(NVDA.US) CEO Jensen Huang joined US President Trump’s delegation to China on May 13 as a last-minute addition to support government objectives. The group features 16 prominent executives, including Tesla Motors, Inc.(TSLA.US)'s Elon Musk and Apple Inc.(AAPL.US)'s Tim Cook. Nvidia shares rose 1% in overnight trading following confirmation that Huang boarded Air Force One for the diplomatic summit.

Iran Sets Five Prerequisites For Negotiations

Iran presented five demands for peace, including unfreezing assets and reparations, while U.S. war costs reached $29 billion. President Trump delayed immediate resolutions to evaluate "red lines" during his upcoming trip to China. International pressure mounts as the UK deploys military assets to the Hormuz Strait, alongside new regional energy agreements.

US CPI Data Ignites Inflation Fears

US CPI growth reached 3.8% in April, pushing five-year breakeven inflation rates to a multi-year high of 2.7%. Driven by oil prices exceeding $100 per barrel amid regional conflicts, traders now predict inflation could surpass 5% this year. Consequently, Morgan Stanley(MS.US) suggests central banks may shift toward policy tightening.

KSA Stocks

BAAN Eliminates Losses Using SAR 525M Premium

BAAN Holding Group Co.(1820.SA) plans to eliminate accumulated losses by the end of Q2 2026 using a SAR 525,153,064 share premium. This follows a capital increase to SAR 619,966,936 for real estate acquisitions from Alhokair Group. The board’s recommendation aims to optimize the capital structure and support operational expansion upon receiving final regulatory approvals.

AlRashed Appoints Maham Professional As Auditor

Saleh Abdulaziz Al Rashed and Sons Co.(1324.SA) clarified assembly results by setting auditor fees at SAR 579,000 for upcoming fiscal periods. The board approved Maham Professional Consulting to review 2026 and Q1 2027 statements.

Jarir Sets New June Eligibility Date

Jarir Marketing Co.(4190.SA) will distribute SAR 252 million in Q1 2026 cash dividends at SAR 0.21 per share for 1.2 billion shares. Due to Eid Al-Adha holiday scheduling constraints, the board amended the eligibility date to June 1, 2026, and the distribution date to June 10. The company's stock rose 1.53% at yesterday's close.

USA Stocks

Intel And SanDisk Tumble Over 6%

The PHLX Semiconductor(SOX.US) fell 3% as QUALCOMM Incorporated(QCOM.US) plunged 11%, marking its worst daily performance since March 2020. Intel Corporation(INTC.US) and Sandisk Corporation(SNDK.US) both tumbled more than 6%, while Micron Technology, Inc.(MU.US) dropped 3.61% during the broad market retreat. This selloff extended into the optical communication sector, causing Lumentum Holdings, Inc.(LITE.US) and Nokia Oyj Sponsored ADR(NOK.US) to fall over 5% amid general tech weakness.

Trump Pressures Tesla For Intel Transition

Wccftech reports the Trump administration is pressuring Tesla Motors, Inc.(TSLA.US) to relocate AI6.5 chip production from Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) to Intel Corporation(INTC.US). This directive aims to domesticate manufacturing, potentially forcing a significant realignment of Tesla’s semiconductor supply chain.

Oklo Shares Fall After Q1 Earnings

Oklo Inc. Class A(OKLO.US) reported a Q1 2026 net loss of $33.07 million, with earnings per share dropping to $0.19 from $0.07 year-over-year. Following the results, shares fell nearly 3% in post-market trading. The nuclear startup remains focused on its long-term strategy, aiming to launch its Aurora powerhouse commercial operations by 2028.