Most Important News

1. Maharah Board Recommends 26% Capital Increase, Declares 13 Halala Dividend
2. Tesla Q1 EPS Forecast Soars 33%
3. Iran closes Hormuz again

At the close of April 16, the Tadawul All Shares Index(TASI.SA) decreased by 0.3%, closing at 11554.16 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.84%, closing at 23275.62 points.

U.S. stocks rocketed higher on Friday after Iran declared the Strait of Hormuz “completely open” on the heels of a ceasefire announcement between Israel and Lebanon.

The S&P 500 index(SPX.US) jumped 1.2% to close at 7,126.06, crossing the 7,100 threshold for the first time. The NASDAQ(IXIC.US) gained 1.52% and settled at 24,468.48 for its 13th consecutive winning day and its longest positive streak since 1992. Both indexes posted fresh intraday and closing records. The Dow Jones Industrial Average(DJI.US) jumped 868.71 points, or 1.79%, to end at 49,447.43. The Russell 2000 ETF(IWM.US) also reached a fresh high. The small-cap index rose more than 2%.

Iran Blocks Hormuz Sparking Global Supply Fears

Iran re-closed the Strait of Hormuz, stranding 20,000 seafarers, while negotiating a 3- to 20-year nuclear suspension with Washington. Tehran cited ongoing U.S. blockades as a ceasefire violation, prompting retaliatory maritime measures. President Trump threatens renewed bombing if a long-term agreement fails before Wednesday’s ceasefire deadline.

S&P 500 Soars Marking Historic Rebound

The S&P 500 index(SPX.US) surged 10.7% over 11 trading days, its fastest gain since 1982. Driven by record systemic buying including $16 billion from CTAs, the rally capitalized on historically low multi-year net exposure. While long-term trends remain positive, Goldman Sachs warns of extreme overbought RSI levels, advising investors to utilize put spreads to hedge against an imminent healthy correction.

KSA Stocks

Maharah Board Recommends 26% Capital Increase, Declares 13 Halala Dividend

Maharah Human Resources Co.(1831.SA) recommended a 26.32% capital increase to SAR 600 million via the issuance of 125 million bonus shares. The expansion, funded by SAR 103.1 million in statutory reserves, aims to strengthen the company’s capital base. Simultaneously, the board approved a 13 Halala per share cash dividend for H2 2025, totaling SAR 58.6 million, payable on May 7.

Riyadh Cables Board Recommends Share Buyback

Riyadh Cables Group Co.(4142.SA) announced a board recommendation to buy back 300,000 ordinary shares using internal resources. The buyback aims to allocate treasury shares for an employee long-term incentive plan. Execution depends on Extraordinary General Assembly approval and satisfying financial solvency regulations, as the purchased shares carry no voting rights.

Aramco Veterans Join Luberef Board Leadership

Saudi Aramco Base Oil Co.(2223.SA) appointed Abdullah Al-Suwailem and Ahmad Al-Kudmani to its board on April 19, 2026, following the resignations of Abdulatif Al-Shami and Andrew Katz. The outgoing members resigned for personal reasons, leading the board to install Aramco (Saudi Arabian Oil Co.(2222.SA)) veterans to complete the term ending August 14, 2027. The appointments await General Assembly ratification.

USA Stocks

Tesla Q1 EPS Forecast Soars 33%

Tesla Motors, Inc.(TSLA.US) revenue is projected to reach $21.92 billion in Q1, a 13% year-over-year increase, despite delivering a lower-than-expected 358,023 vehicles. Optimism stems from AI5 chip milestones and an 8.8 GWh energy storage deployment. However, a capital expenditure surge to $20 billion for autonomous technology may strain short-term financials before the April 22 earnings release.

Big Tech Surges Driving Market Momentum

The NASDAQ-100(NDX.US) extended its winning streak to 13 days as Tesla Motors, Inc.(TSLA.US) soared 14.81% and Microsoft Corporation(MSFT.US) surged 14.00% this week. Gains continued with Meta Platforms(META.US) at 9.32%, Alphabet Inc. Class A(GOOGL.US) at 7.70%, NVIDIA Corporation(NVDA.US) at 6.92%, Amazon.com, Inc.(AMZN.US) at 5.11%, and Apple Inc.(AAPL.US) at 3.74%. Robust sentiment also lifted the Airlines ETF by 4.8% on Friday, reflecting widespread sector optimism and historic index persistence.