At the close of Aug 9, 2026, the Tadawul All Shares Index(TASI.SA) increased by 0.05%, closing at 10817.01 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) decreased by 0.42%, closing at 21934.40 points.

S&P 500 index(SPX.US) futures edged lower early Monday amid growing doubts that the U.S. and Iran will soon strike a deal to open the Strait of Hormuz.

Futures tied to the broad index were flat, while NASDAQ-100(NDX.US) futures added 0.2%. Dow Jones Industrial Average(DJI.US) futures shed 58 points, or 0.11%.

Investor optimism that the U.S. and Iran might be close to coming to an agreement to allow vessels to freely transit the critical Hormuz strait dimmed over the weekend after Iran denied engaging in any direct negotiations with the U.S. around opening the waterway. WTI crude oil rose 1% to just above $79 a barrel on Sunday.

Last week, Treasury Secretary Scott Bessent’s comments to CNBC suggested a deal was imminent. But President Donald Trump told Axios on Sunday that the U.S. was “only semi-negotiating” with Iran and wanted the Middle Eastern country to feel economic pressure.

The three major indexes are coming off their best weeks since April. The S&P 500 index(SPX.US) finished last week at an all-time closing record.

Stocks got an end-of-week boost on Friday after the July nonfarm payrolls report showed an unexpected contraction, raising hopes for investors that the Federal Reserve will hold off on interest rate hikes. Fed funds futures traders now price in a roughly 44% likelihood that the central bank raises rates at its September meeting, down from a 67% reading seen a week prior, according to CME’s FedWatch tool.

“The stock market is likely to welcome the dovish implications of the [jobs] report,” said Peter Graf, investing chief at Amova Asset Management Americas. But, “investors should be wary of the future growth potential of an economy where fewer people are working.”

Investors will closely monitor consumer and producer price index readings due out this week for the latest insights on inflation. No major economic reports are expected on Monday.

Traders will also be watching for earnings reports due out this week from consumer-facing companies such as On Holding(ONON.US) and CAVA Group, Inc.(CAVA.US), as well as technology firms including Super Micro Computer, Inc.(SMCI.US) and CoreWeave(CRWV.US)

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US Iran Tension Keeps Oil Higher

Strait of Hormuz transit remains uncertain as Iran conditions its reopening on US sanctions relief, asset unfreezing, and an end to the naval blockade while negotiating alternative shipping channels with Oman. U.S. President Trump signaled a low-key approach focused on economic pressure and diplomacy rather than immediate military escalation. Energy markets responded with higher oil prices on Monday due to ongoing geopolitical risks.

BofA Hartnett Urges Near-Term Stock Retreat

Bank of America Chief Investment Strategist Michael Hartnett advises near-term tactical rotation out of risk assets into defensive sectors as financial conditions tighten. However, he maintains a long-term strategic preference for stocks over bonds, citing structural support from policymakers who view equities as too big to fail. Hartnett warns that cyclical sectors remain vulnerable if prevailing consensus assumptions around Fed rate policy and tech spending fall short.

KSA Stocks

Maaden Q2 Net Profit Jumps 13%

Saudi Arabian Mining Co.(1211.SA) (Maaden) reported Q2 2026 net profit of SAR 2.18 billion, up 13.2% year-on-year, on higher commodity market prices and gold and aluminum sales volumes. Q2 revenue rose 16.2% to SAR 10.94 billion. For H1 2026, net profit reached SAR 3.81 billion, up 9.8% year-on-year.

Alwasail Industrial Q2 Profit Soars 131%

Alwasail Industrial Co.(4148.SA) reported a 130.7% year-on-year jump in Q2 2026 net profit to SAR 8.23 million, despite a 32.6% decline in revenue to SAR 78.28 million. The profit growth was driven by higher gross margins and a 51.7% reduction in selling expenses. For H1 2026, net profit fell 21.5% to SAR 13.22 million. The company's stock rose 4.53%.

Batic Q2 Net Profit Soars 293%

Batic Investments and Logistics Co.(4110.SA) reported a 293.2% year-on-year surge in Q2 2026 net profit to SAR 4.87 million, despite an 11% drop in revenue to SAR 132.42 million. Profit growth was driven by lower administrative expenses, reduced finance costs, and smaller investment losses. For H1 2026, net profit reached SAR 17.12 million, up 14.6% year-on-year.

Flynas Signs Saudi Government Travel Deal

Flynas Co.(4264.SA) signed a Unified Framework Agreement for Government Travel with the Expenditure and Projects Efficiency Authority (EXPRO) to provide travel services to Saudi government entities. The contract has no fixed value, as payments depend on individual purchase orders. System integration is currently underway, with financial impact expected to begin in Q4 2026.

Rasan Q2 Net Profit Soars 115%

Rasan Information Technology Co.(8313.SA) reported Q2 2026 net profit of SAR 85.2 million, up 115.7% year-on-year, driven by a 106.5% surge in revenue to SAR 256.5 million from new product launches and higher policy sales. For H1 2026, net profit reached SAR 174.1 million, up 168.3% year-on-year.

USA Stocks

SpaceX CEO Musk Targets 200B Starlink Revenue Goal

SpaceX(SPCX.US) CEO Elon Musk stated that the upcoming Starship-launched Starlink V3 satellites will deliver ten times the performance of current V2 models, eventually scaling total bandwidth to over 100 times the V2 system. Musk noted Starlink's annual recurring revenue will reach $20 billion in 2026 for V2, with future iterations capable of driving revenue past $200 billion even if unit prices fall sharply.

Musk Explores FEL Tech to Challenge ASML

SpaceX(SPCX.US) CEO Elon Musk is reportedly exploring Free Electron Laser (FEL) technology to disrupt ASML Holding NV ADR(ASML.US)'s dominance in EUV light sources. Backed theoretically by higher power, tunable wavelengths below 6nm, and sixfold better energy efficiency, startup xLight claims FEL could cut wafer costs by 50%. However, massive accelerator requirements and production stability remain major hurdles.

Coherent Soars 13% to Lead Optical

US optical communications stocks surged on Friday, led by Coherent Corp.(COHR.US) rising 13.44%, Applied Optoelectronics, Inc.(AAOI.US) up 9.20%, Credo Technology(CRDO.US) up 8.45%, Lumentum Holdings, Inc.(LITE.US) up 6.22%, and Corning Inc(GLW.US) up 5.40%. 

Gold stocks also posted strong gains, with Coeur Mining, Inc.(CDE.US) jumping 11.12%, Gold Fields Limited Sponsored ADR(GFI.US) up 9.3%, Harmony Gold Mining Co. Ltd. Sponsored ADR(HMY.US) up 9.10%, Kinross Gold Corporation(KGC.US) up 7.90%, and Newmont Corporation(NEM.US) up 7.20%. Conversely, memory stocks fell across the board, as Seagate Technology Holdings PLC(STX.US) dropped 4.71%, SK hynix Inc. Sponsored ADR(SKHY.US) fell 3.90%, Western Digital Corporation(WDC.US) slipped 3.80%, Sandisk Corporation(SNDK.US) declined 3.68%, and Micron Technology, Inc.(MU.US) dropped 0.44%.