At the close of June 10, the Tadawul All Shares Index(TASI.SA) decreased by 0.92%, closing at 11012.64 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) up by 0.50%, closing at 23002.51 points.

Stock futures rose early Thursday as the U.S. announced it has completed its strikes against Iran, though Gulf countries reported hostile activity from Tehran.

S&P 500 index(SPX.US) futures gained 0.4%, and NASDAQ-100(NDX.US) futures added 0.6%. Futures tied to the Dow Jones Industrial Average(DJI.US) rose 110 points, or 0.2%.

Shares of Oracle Corporation(ORCL.US) dropped more than 11% in extended trading after the software giant announced plans to raise an additional $20 billion in equity and debt to pay for its artificial intelligence buildout. The decline weighed on S&P 500 futures and the iShares Expanded Tech-Software Sector ETF(IGV.US), heralding potential losses in the tech sector in the upcoming session.

U.S. Central Command forces launched more “self-defense strikes” against Iran late Wednesday, according to Centcom’s post on social media platform X. The attacks came at the direction of President Donald Trump, according to the post. West Texas Intermediate crude futures advanced nearly 3% to trade around $92 a barrel.

Stocks fell during Wednesday’s regular trading session, thanks to another rout in the chip sector and a ramp-up in tensions with Iran. The Dow tumbled 953.33 points, or 1.87%, while the S&P 500 fell 1.62%. The tech-heavy Nasdaq Composite lost 1.98%.

Victoria Fernandez, chief market strategist at Crossmark Global Investments, said that many investors are now buying into what they believe to be the opposite of the artificial intelligence trade that drove stocks for much of this year.

“I think what people are saying are, where can we go that kind of hedges that tech trade? What would be the antithesis of the momentum and the beta?” she said on CNBC’s “Closing Bell” on Wednesday afternoon. “We’re seeing that rotation out of tech into some things that have been beaten down a little bit over the past months.”

Fernandez added that she’s seen her clients increasingly put money into other areas such as pharmaceuticals and biotech within healthcare, as well as the financials and energy sectors.

The fragile ceasefire between the U.S. and Iran was further threatened on Wednesday, after Trump signaled that Tehran was taking “too long” to agree to a potential deal and would “pay the price.” He also pledged more strikes against the country, saying that the U.S. will be “attacking them very hard.”

Investors will be keeping a close eye on May’s producer price index reading, which will be released on Thursday at 8:30 a.m. ET. Economists polled by Dow Jones expect the wholesale inflation reading to have risen 0.7% on a monthly basis, while core inflation — which excludes volatile food and energy prices — is forecast to have added 0.5%. This is below the respective 1.4% and 1% headline and core increases in April.

Traders will also watch for initial jobless claims from the week ended June 6 on Thursday morning.

Donald Trump Threatens Massive Iran Bombing

US Central Command executed a second day of precision airstrikes against Iranian military reconnaissance, communication, and air defense sites. The action follows the downing of a US Apache helicopter and alleged violations of a two-month-old ceasefire. President Donald Trump warned from the White House Situation Room that the US will escalate bombings if Iran refuses to sign a permanent peace agreement.

Saudi Arabia Resumes Lebanese Imports

Saudi Arabia Crown Prince Mohammed bin Salman directed the resumption of Lebanese exports to the Kingdom following a request from Lebanese President Joseph Aoun. The decision responds to positive steps taken by Lebanon to rebuild state institutions and secure its territory over the past year. Saudi Foreign Minister Prince Faisal bin Farhan reaffirmed support for Lebanese stability and sovereignty.

PIF and Kuwait Bid for SpaceX Shares

Saudi Arabia’s Public Investment Fund and the Kuwait Investment Authority have each placed share orders worth $1 billion to $5 billion in the initial public offering of SpaceX(SPCX.US). The Qatar Investment Authority is also likely to commit to the offering. The aerospace firm plans to raise $75 billion by offering 555.6 million shares at $135 each.

GFH Bank Partners with OCTO for Logistics Platform

GFH Financial Group (GFH Bank) signed a memorandum of understanding with OCTO Management Consultancies to develop a $300 million (AED 1.1 billion) logistics and industrial real estate platform in Saudi Arabia and the UAE. GFH will act as investment manager and development partner, targeting build-to-suit and speculative development projects such as warehouses and cold storage assets.

KSA Stocks

ADES Holding CEO Likens Model to Infrastructure

Ades Holding Co.(2382.SA) CEO Mohamed Farouk stated its long-term contract model resembles infrastructure firms, supported by a backlog exceeding SAR 34 billion and a 50% EBITDA margin. Total debt reached SAR 17 billion at the end of Q1 2026, financed at 1% above SAIBOR. The board recommended a 100% capital increase by capitalizing SAR 1.13 billion from the share premium account, maintaining its 60% dividend payout policy.

National Shipping Company Shareholders OK SAR 1 Payout

Shareholders of National Shipping Company of Saudi Arabia(4030.SA) approved a board recommendation to distribute a 10% cash dividend, equivalent to SAR 1 per share, for 2025. The total payout amounts to SAR 922.85 million. The ex-dividend date was June 10, 2026, with payment scheduled for July 1, 2026.

Aldyar Alarabiya Postpones Main Market IPO

Aldyar Alarabiya Real Estate Development Co. postponed its planned initial public offering on Tadawul's Main Market. The Capital Market Authority had approved the sale of 97.5 million shares, representing 30% of the company's SAR 325 million capital, on December 31, 2025. The six-month regulatory approval period was set to expire without completion.

USA Stocks

Oracle Shares Plunge 10% Post-Market

Oracle Corporation(ORCL.US) shares plunged over 10% in late trading after reporting Q4 capital expenditures of $15.9 billion, bringing its full-year capex to $55.7 billion, ahead of the $50 billion forecast. Adjusted revenue hit $19.18 billion, beating the $19.09 billion analyst estimate, supported by $5.79 billion in cloud infrastructure revenue. The software firm maintained its fiscal 2027 revenue guidance of $90 billion and raised its full-year EPS outlook to $8.05.

Super Micro Computer Plans 7B Equity Raise

Super Micro Computer, Inc.(SMCI.US) shares plunged nearly 28% after announcing plans for a $7 billion equity and equity-linked financing package. The capital raise includes a $5 billion underwritten offering and a $2 billion at-the-market program. The funds will buy components to fulfill approximately $39 billion in recent advanced AI server orders, though investors sold off the stock over dilution concerns.

Global Chip Rout Pulls Nvidia and AMD Lower

Major technology and semiconductor stocks declined sharply, driven by a 3.57% drop in the Philadelphia Semiconductor Index. QUALCOMM Incorporated(QCOM.US) dropped nearly 7%, while Broadcom Limited(AVGO.US), Arm Holdings(ARM.US), Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US), Micron Technology, Inc.(MU.US), and Advanced Micro Devices, Inc.(AMD.US) all slid over 4%, and NVIDIA Corporation(NVDA.US) lost 3.7%.