At the close of Aug 12, 2026, the Tadawul All Shares Index(TASI.SA) increased by 0.10%, closing at 10844.12 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) increased by 0.52%, closing at 21781.04 points.

US stock futures were little changed early Thursday as traders awaited more inflation data and weighed fresh earnings reports.

Dow Jones Industrial Average(DJI.US) futures traded just under the flatline. S&P 500 index(SPX.US) futures was little changed, while NASDAQ-100(NDX.US) futures added 0.12%.

The July reading of the U.S. producer price index, which gauges what wholesalers pay for raw goods and materials, is set for release Thursday at 8:30 a.m. ET. Economists polled by Dow Jones expect an increase of 0.2% from the prior month.

The PPI report comes a day after an in-line reading on the consumer price index.

CPI for July increased by 0.1% month over month, matching expectations. The tame report gave the S&P 500 index(SPX.US) a boost, with the benchmark closing higher for the first time in three sessions. The report led to traders paring expectations for a rate hike in September.

“Still, the odds favor a rate increase in either October or December, after monetary policy officials take time to gauge the temperature on both sides of the central bank’s mandate,” said José Torres, senior economist at Interactive Brokers.

Investors will get even more economic data on Friday in the form of July retail sales. Economists expect growth of just 0.1% last month, according to Dow Jones.

Wall Street also got a boost after CoreWeave(CRWV.US) and other tech companies soared post earnings. Traders assessed a slew of corporate earnings that came out after the bell Wednesday.

Cisco Systems, Inc.(CSCO.US), Cerebras Systems(CBRS.US) and Coherent Corp.(COHR.US) all posted results that weren’t enough to impress investors. Cisco traded lower by almost 4%, while Cerebras and Coherent shed 15% and about 3%, respectively.

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PIF Unveils 2026-2030 Value Realization Strategy

The Public Investment Fund published its 2026–2030 strategy document on Aug. 12, following board approval in mid-April, launching its "Value Realization" phase. The five-year plan structures investments across three core portfolios—Vision, Strategic Investments, and Financial Investments—to expand domestic private-sector partnerships and advance national economic priorities. Capital under the Vision Portfolio will focus on six domestic ecosystems, including tourism, advanced manufacturing, renewable energy, and NEOM.

Hormuz Transit Plunges Despite Trump Claim

U.S. President Donald Trump claimed complete control over the Strait of Hormuz, but shipping data shows daily vessel transits plunged to 14 from a pre-war average of 130. Sporadic Iranian drone and missile strikes have led the International Energy Agency to declare the waterway effectively closed, driving war risk insurance premiums up to 10% of vessel value.

KSA Stocks

Tabuk Agricultural Sells Stake for 10.5M

Tabuk Agricultural Development Co.(6040.SA) sold 300,000 shares of Horizon Food Co.(9564.SA) in two transactions totaling SAR 10.5 million to enhance liquidity and fund operations. The company expects to record a loss of SAR 1.12 million based on a book value of SAR 38.718 per share, with the financial impact appearing in Q3 2026. TADCO shares soared 10% yesterday before the announcement made today.

Flynas Updates Travel Deal Terms

Flynas Co.(4264.SA) issued an addendum regarding its Unified Framework Agreement for Government Travel with EXPRO, clarifying it was signed on July 23, 2026. The contract remains effective for nine months and twenty-one days from signing. The company confirmed there is no financial impact resulting from this addendum.

Late xAI Valuation Reshapes SASCO Results

Saudi Automotive Services Co.(4050.SA) (SASCO) amended its Q2 2026 financial results after receiving a late fair value update for its xAI investment before auditor signing. Net profit attributable to shareholders for Q2 became SAR 56.81 million, up from a previously reported loss of SAR 5.98 million. First-half net profit was revised to SAR 33.11 million from a SAR 29.69 million loss.

Cenomi Retail Appoints Chairman, Sets Committees

AFG International Co.(4240.SA) announced board resolutions passed on Aug. 12, 2026, appointing Hussein Ali Shobokshi as Chairman and Ahmed Wassim Alarabi as Vice Chairman for a four-year term. The board also established four committees, including Audit and Transformation, and appointed market representatives.

Arabian Centres Issues 1-for-12 Bonus Shares

The Capital Market Authority approved Arabian Centres Co.(4321.SA)'s request to increase its capital from SAR 4.75 billion to SAR 5.18 billion via a 1-for-12 bonus share distribution. The SAR 426.59 million increase will be funded from retained earnings, expanding outstanding shares from 475 million to 517.66 million. The company must convene an extraordinary general assembly within six months.

USA Stocks

Nebius Jumps 34% on Q2 Revenue Soars 454%

NEBIUS(NBIS.US) reported a 454% year-over-year surge in Q2 revenue to $582.3 million, driven by AI cloud services which accounted for 98% of total sales. Adjusted EBITDA reached $236 million as the company signed four contracts exceeding $1 billion each. Nebius maintained its full-year revenue guidance and raised its 2026 contracted capacity target to 5 gigawatts. The stock jumped 34% post-earnings.

Optical and Cloud Stocks Rally Big

Lumentum Holdings, Inc.(LITE.US) jumped 13.63% after beating quarterly revenue, profit, and guidance estimates, leading optical stock gains alongside Coherent Corp.(COHR.US) (+8.24%), Credo Technology(CRDO.US) (+8.26%), Corning Inc(GLW.US) (+5.18%), Applied Optoelectronics, Inc.(AAOI.US) (+2.79%), and Marvell Technology(MRVL.US) (+2.25%). 

In storage, SK hynix Inc. Sponsored ADR(SKHY.US) (+9.01%), Seagate Technology Holdings PLC(STX.US) (+7.03%), Sandisk Corporation(SNDK.US) (+5.76%), Micron Technology, Inc.(MU.US) (+4.92%), and Western Digital Corporation(WDC.US) (+3.69%) pushed the Roundhill Memory ETF(DRAM.US) up 7.68%. 

Meanwhile, the Roundhill Neocloud ETF(NCLD.US) surged 17.26% as NEBIUS(NBIS.US) soared 34.14% on a 514% cloud sales jump, CoreWeave(CRWV.US) jumped 19.28% on a $104 billion backlog, IREN Limited(IREN.US) rose 9.86%, Applied Digital(APLD.US) gained 4.92%, and HUT 8(HUT.US) added 2.24%.

SpaceX Grok 4.6 Matches GPT-5.6 Sol

SpaceX(SPCX.US)AI officially released Grok 4.6, an upgraded model designed to handle complex, multi-step agentic tasks and visual workflows. The new release processes large codebases, conducts research, and turns product ideas into complete applications. In benchmark evaluations across 9 tests on the Artificial Analysis Intelligence Index, Grok 4.6 matched the performance of GPT-5.6 Sol.

Coherent Q4 Earnings Beat Expectations

Coherent Corp.(COHR.US) reported Q4 revenue of $2.05 billion and adjusted EPS of $1.74, both beating market expectations. The company projected Q1 revenue between $2.2 billion and $2.4 billion, exceeding analysts' $21.5 billion estimate. Despite strong results and robust AI demand, the stock dropped in post-market trading following a 200% gain over the past year.

Cerebras Shares Plunge 17% Post-Market

Cerebras Systems(CBRS.US) reported Q2 core revenue of $209.9 million, up 103% year-over-year, driven by a 287% surge in cloud and service revenue to $127.7 million from expanded OpenAI deployments. Despite beating top-line expectations, GAAP revenue suffered from a 23% decline in hardware sales, sending shares down about 17% post-market. Cerebras raised its full-year core revenue guidance to $880 million–$890 million and expects 2027 revenue to more than triple.