Most Important News

1. Saudi Arabia Captures 2.6B Foreign Capital
2. Bank Albilad Q1 Net Profit Surges 5%
3. Musk Spends 1.4B On SpaceX Equity

At the close of April 21, the Tadawul All Shares Index(TASI.SA) decreased by 0.19%, closing at 11344.96 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) fell by 0.02%, closing at 22860.29 points.

U.S. stock futures rose early Wednesday after President Donald Trump extended the U.S. ceasefire in Iran.

S&P 500 index(SPX.US) futures added 0.52%, while NASDAQ-100(NDX.US) futures gained 0.68%. Futures tied to the Dow Jones Industrial Average(DJI.US) rose by 217 points, or 0.44%.

All three major averages had settled lower as investors grew concerned that the U.S. and Iran would not be able to reach a peace deal by Wednesday, when the tenuous ceasefire between the two nations was set to expire. The S&P 500 shed 0.63%, while the Nasdaq Composite fell 0.59%. The Dow Jones Industrial Average lost 293 points, or 0.59%.

However, shortly after the market closed, Trump extended the two-week U.S. ceasefire, saying it was warranted due to Tehran’s “seriously fractured” government.

“Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal,” the president said in a Truth Social post.

He continued: “I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other.”

Gold, Nasdaq Futures Rise 1% on Iran Offers Negotiations Pending Blockade Removal

Iran’s UN envoy stated Tehran is ready for negotiations once the U.S. lifts its maritime blockade, causing oil to fall over 1% while NASDAQ-100(NDX.US) futures rose 0.8%. This Tasnim report marks the first IRGC-linked confirmation of the diplomatic offer. Market stability now depends on Washington’s response to claims of ceasefire violations.

Saudi Arabia Captures 2.6B Foreign Capital

GCC equity markets recorded $1.47 billion in net foreign inflows in Q1 2026, led by a $2.6 billion surge into Saudi Arabia. This reversal was driven by Vision 2030 reforms benefiting firms like Saudi Arabian Oil Co.(2222.SA) and Al Rajhi Bank(1120.SA). Despite a 23.4% plunge in trading volumes, total value reached $145 billion, though regional geopolitical risks persist.

Warsh Vows Independence From White House

At his confirmation hearing, Kevin Warsh defended Fed independence, explicitly denying any rate-cut promises to Donald Trump. Warsh proposed increasing the current frequency of four annual policy meetings and blamed the Fed’s balance sheet for the U.S. “K-shaped” expansion. Confirmation remains stalled as Senator Tillis demands the DOJ conclude its investigation into Jerome Powell before proceeding.

KSA Stocks

Bank Albilad Q1 Net Profit Surges 5%

Bank Albilad(1140.SA) reported a 5.05% year-on-year increase in net profit to SAR 735.8 million for Q1 2026, driven by an 8% rise in net investing and financing income. While total assets soared 13.1% to SAR 179.9 billion, quarterly net profit tumbled 9.9% sequentially as credit impairment charges soared 35% compared to the previous year.

Raoom Acquires Two Saudi Glass Factories

Raoom Trading Co.(4144.SA) signed a SAR 15.8 million agreement with Alma Glass and Aluminum to acquire two industrial facilities in Riyadh and the Eastern Province. Simultaneously, the company completed its previous Jeddah plant acquisition. These moves aim to increase production capacity and geographic reach, with financial impacts expected to manifest in operational results starting in Q3 2026.

Riyadh Development Sells Fund Units for 184M

Arriyadh Development Co.(4150.SA) is selling its entire stake in the Al Arabi Riyadh Development Real Estate Fund to Sumou Holding for SAR 184.47 million. This divestment follows the termination of ARDCO's development role. The 18-month installment plan will not impact 2026 earnings, as the valuation gains were already recognized in 2025.

USA Stocks

GE Aerospace Q1 Profit Beats Estimates

GE Aerospace(GE.US) reported Q1 adjusted sales of $11.6 billion, up 30% year-on-year, while earnings per share hit $1.86. Robust engine maintenance demand successfully countered rising fuel costs and supply chain disruptions caused by the Iran war. The company now projects annual profits at the high end of guidance, despite warnings about potential impacts from high oil prices and global growth slowdowns.

Musk Spends 1.4B On SpaceX Equity

SpaceX filed for a confidential IPO targeting a 1.75 trillion valuation, revealing a dual-class structure that secures Tesla Motors, Inc.(TSLA.US)'s CEO Elon Musk 79% voting power with 42% equity. The documents detail a 1.4 billion purchase of employee stock and a compensation plan tied to a 6.6 trillion market cap. This allows Musk absolute authority while pivoting toward massive orbital AI infrastructure projects.