Most Important News

1. Trump: Progress made with Iran, “Freedom Plan” will be suspended in the short term;
2. Saudi Arabia’s Q1 Non-Oil Revenues Up 2% to $30.9 Billion;
3. Savola Q1 2026 Profit Jumps 50% to SAR 284.5 Million;

At the close of 5/5/2026, the Tadawul All Shares Index(TASI.SA) decreased by 0.75%, closing at 11006.97 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) fell by 0.35%, closing at 22726.20 points.

As of Tuesday’s close, the S&P 500 index(SPX.US) increased by 0.81%, the NASDAQ(IXIC.US) rose by 1.03%, and the Dow Jones Industrial Average(DJI.US) increased by 0.73%.

Trump: Progress made with Iran, “Freedom Plan” will be suspended in the short term

U.S. President Trump wrote that, based on requests from Pakistan and other countries, and in light of our tremendous military victories in actions against Iran as well as significant progress achieved in reaching a comprehensive final agreement with Iranian representatives, both sides have unanimously agreed that, while blockade measures will remain effective, the “Freedom Plan” (that is, the operation of ships passing through the Strait of Hormuz) will be suspended for a period of time to observe whether the agreement can ultimately be reached and signed.

U.S. April Services PMI Falls Short of Expectations, Elevated Price Pressures Intensify Stagflation Concerns

The ISM Non-Manufacturing PMI fell from 54.0 to 53.6 in April, below the market expectation of 53.7. The final reading of the S&P Global Services PMI for April was revised down from the preliminary 51.3 to 51.0, with the employment sub-index contracting for the second consecutive month. The input price index remained at a cyclical high. Weak growth combined with high inflation has heightened market concerns about stagflation and put the Federal Reserve in a policy dilemma.

Saudi Arabia’s Q1 Non-Oil Revenues Up 2% to $30.9 Billion

Saudi Arabia’s non-oil revenues grew 2% year-on-year to SAR116 billion ($30.9 billion) in the first quarter of 2026, as the Kingdom continues to diversify its economy. Total revenues reached SAR261 billion, while government spending surged 20% to SAR387 billion, resulting in a SAR126 billion budget deficit. Despite the higher spending, economic indicators remain strong: real GDP grew 4.5% in 2025, inflation stayed moderate at 1.8%, industrial production rose nearly 10%, and e-commerce sales jumped over 42%, reflecting rapid digital transformation. The government attributes the deficit to strategic investments supporting long-term growth.

KSA Stocks

Savola Q1 2026 Profit Jumps 50% to SAR 284.5 Million

Savola Group(2050.SA) posted a net profit of SAR 284.5 million in Q1 2026, a 50.4% year-on-year increase from SAR 189.2 million during the same period last year. Revenues rose slightly by 0.2% to SAR 7.29 billion. Operating income grew 16.7% year-on-year, while EPS reached SAR 0.95, up 50.4%. Compared to the previous quarter, net profit was up 46.6%. Total shareholders’ equity after minority interest stood at SAR 5.7 billion as of March 31, 2026.

Qassim Cement Q1 2026 Net Profit at SAR 68.7 Million, Down 22% Year-on-Year

Qassim Cement Co.(3040.SA) reported a net profit of SAR 68.72 million for Q1 2026, a 22.45% decrease from SAR 88.62 million in the same period last year. Sales declined by 3.3% year-on-year to SAR 292.8 million, primarily due to lower average selling prices and higher operating costs following increased fuel prices. Quarter-on-quarter, revenues edged up 0.9%, but net profit slipped 0.2% as higher G&A and selling expenses offset gains. Shareholders’ equity stood at SAR 2.64 billion at the end of the period.

Jabal Omar Posts SAR 117 Million Profit in Q1 2026

Jabal Omar Development Co.(4250.SA) reported a net profit of SAR 117 million in Q1 2026, down 87.6% from SAR 946 million in Q1 2025, which included exceptional gains from a land sale. Revenues fell 1% year-on-year to SAR 739 million, impacted by regional geopolitical tensions and hotel booking cancellations. Despite challenges, additional bookings from new markets and improved retail occupancy limited the revenue decline. Shareholders’ equity rose to SAR 15.97 billion compared to SAR 14.41 billion a year earlier. Excluding exceptional items, Q1 2026 profit represents a significant improvement from a net loss in Q1 2025

USA Stocks

AMD Earnings Surpass Expectations Across the Board, Company Expects Over 70% CPU Revenue Growth in Q2

Advanced Micro Devices, Inc.(AMD.US) released its first-quarter report after market close on Tuesday. Revenue grew 38% to $10.3 billion, and adjusted earnings per share were $1.37, both beating analyst expectations. Data center business revenue increased 57% to $5.8 billion, above the expected $5.61 billion. The company forecasts second-quarter sales of $11.2 billion (plus or minus $300 million), significantly higher than the consensus analyst forecast of $10.5 billion. In the analyst conference, AMD stated that, based on current demand signals and the structural growth of CPU computing driven by AI agents, it expects the addressable CPU market to grow at an annual rate of over 35% until 2030, ultimately reaching $120 billion. AMD’s previous forecast in November was for 18% growth. The company also expects Q2 data center CPU revenue growth to exceed 70%. Chip shipments to Meta are scheduled to start in the second half of this year.

Super Micro Computer Posts Adjusted EPS of $0.84 in Third Fiscal Quarter, Up Over 170% Year-on-Year

Super Micro Computer, Inc.(SMCI.US) reported sales of $10.2 billion for the third quarter of fiscal year 2026, compared to $4.6 billion in the same period last year. Adjusted earnings per share (EPS) came in at $0.84, beating the consensus analyst forecast of $0.62 and soaring 170.97% from last year's EPS of $0.31. The company expects net sales for the fourth quarter of fiscal year 2026 (ending June 30, 2026) to be between $11 billion and $12.5 billion. GAAP diluted net EPS is projected to be between $0.53 and $0.67, while non-GAAP diluted net EPS is expected to be between $0.65 and $0.79.

U.S. Storage Stocks—Micron, SanDisk, Seagate, Western Digital, Samsung, and SK Hynix—All Hit Record Highs

All storage concept stocks surged. On the news front, Micron Technology, Inc.(MU.US)’s Chairman and CEO, Sanjay Mehrotra, sent a strong signal in an interview with CNBC: Although the development of artificial intelligence is still at an “early stage,” the supply of high-performance memory chips is already in an “extremely tight” situation, and production capacity cannot be quickly expanded. Mehrotra emphasized that memory is a strategic asset for unlocking AI’s full potential. Currently, the focus of the AI industry is shifting from the training phase to the inference phase. The widespread adoption of inference applications will lead to an exponential increase in the number of required tokens, which urgently demands more and faster memory support.