Most Important News

1. Trump Meets Xi For Beijing Summit
2. East Pipes Annual Profit Soars 50%, Approves SAR 4 Dividend
3. Cisco Soars 19% Following Earnings Beat

At the close of May 14, the Tadawul All Shares Index(TASI.SA) down by 0.22%, closing at 10995.44 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) up by 1.01%, closing at 22995 points. 

Stocks fell on Friday, bogged down by losses in technology stocks and a rise in U.S. Treasury yields, after a summit between President Donald Trump and Chinese President Xi Jinping ended and left traders worried about no major policy breakthroughs.

The S&P 500 index(SPX.US) shed 1.24% to end at 7,408.50, while the NASDAQ(IXIC.US) slipped 1.54% to 26,225.14. The Dow Jones Industrial Average(DJI.US) was down 537.29 points, or 1.07%, and closed at 49,526.17.

Investors took profits in tech after the group saw sharp gains recently. Notably, Intel Corporation(INTC.US) retreated more than 6%, while Advanced Micro Devices, Inc.(AMD.US) and Micron Technology, Inc.(MU.US) lost 5.7% and 6.6%, respectively. NVIDIA Corporation(NVDA.US) dropped 4.4%, while Cerebras Systems, Inc. Class A(CBRS.US) — which surged 68% Thursday after it began trading on the Nasdaq — shed 10%.

“The group has witnessed an extremely unsustainable move in recent weeks and remains vulnerable to profit taking regardless of the headlines,” wrote Adam Crisafulli of Vital Knowledge.

Microsoft Corporation(MSFT.US) was an exception, however. The stock was 3% higher after Bill Ackman said Friday that Pershing Square has built a position in the name.

Treasury yields jumped, pressuring stocks, with the 30-year rate topping 5.1%. A series of reports this week showed inflation was revving back up as oil prices remain elevated from the Middle East conflict. Higher rates could hit the high growth stocks the hardest.

PIF US Equity Value Tumbles 7%

The Public Investment Fund reduced its US equity holdings value from $12.95 billion to $12 billion in Q1 2026, fully divesting from Allurion Technologies, Inc.(ALUR.US). Value fell because stock values dropped for Uber Technologies,Inc.(UBER.US) and Lucid(LCID.US), even though the fund maintained static share counts across its four remaining assets. This contraction pushes total holdings to their lowest level since Q4 2020.

Silver Plunges 10% Disrupting Metal Markets

Global markets experienced a sharp correction as NVIDIA Corporation(NVDA.US) fell nearly 5% and silver plunged over 10%. This selloff was driven by hotter-than-expected inflation data and geopolitical tensions, which pushed Japan's PPI up 4.9%. Consequently, global bond yields hit multi-decade highs, forcing traders to price in a 51% probability of a Federal Reserve rate hike by December.

KSA Stocks

SARCO Signs MoU Advancing Green Ammonia

Saudi Arabia Refineries Co.(2030.SA) signed a one-year non-binding memorandum of understanding with Ally Hydrogen Energy on May 15, 2026. This agreement secures the final supplier to build a green ammonia plant and hydrogen equipment manufacturing hub in Jazan Industrial City. The partnership is projected to yield a positive financial impact by the end of Q3 2028.

Saudi Chemical Secures SAR 742 million Deal, Boosts Q4 Earnings

A subsidiary of Saudi Chemical Co.(2230.SA) signed a five-year contract with the National Company for Mechanical Systems on May 14, 2026, to supply military materials. The agreement features a maximum ceiling of USD 198 million (SAR 742 million) based on initial annual quantities. This partnership will generate a positive financial impact starting in the fourth quarter of 2026.

ADES's Tenaz Agreement Hits SAR 832 Million Value

Ades Holding Co.(2382.SA) extended its North Sea drilling contract with Tenaz Energy Netherlands B.V., boosting the potential value to SAR 832.24 million. Driven by tight offshore asset supply, the agreement converts a one-year term into a three-year firm commitment. The extension secures long-term rig utilization and enhances revenue visibility.

Fakeeh Care Signs Major Healthcare MoU with Samsung

Dr. Soliman Abdel Kader Fakeeh Hospital Co.(4017.SA) signed a one-year memorandum of understanding with Samsung C&T Corporation Saudi Arabia on May 14, 2026. The collaboration aims to co-develop healthcare projects and deploy artificial intelligence systems inspired by South Korean models. Aligned with Saudi Vision 2030, the initiative expands infrastructure.

Saleh Alrashed Secures SAR 50M Facility

Saleh Abdulaziz Al Rashed and Sons Co.(1324.SA) secured a Sharia-compliant facility worth SAR 50 million from Alinma Bank(1150.SA) on May 14, 2026. The financing aims to support working capital and operational expansion. This agreement will run until April 30, 2029, to improve future cash flow efficiency.

USA Stocks

Micron Stock Tumbles 6.6% Leading Tech Losses

Major US equity indices fell over 1% as the semiconductor index dropped 4%, driven by Micron Technology, Inc.(MU.US) tumbling 6.62% and Intel Corporation(INTC.US) falling 6.18%. This tech-led selloff snapped NVIDIA Corporation(NVDA.US)’s seven-day winning streak, though it gained 5% weekly. Conversely, Microsoft Corporation(MSFT.US) rose over 3% after Ackman increased holdings, helping the S&P 500 achieve a historic seven-week winning streak.

Institutional Portfolios Contract Reshaping Wall Street

Wall Street institutions substantially reshuffled their Q1 2026 portfolios, with Berkshire Hathaway's total market value falling to $263 billion and Baillie Gifford's plunging to $97.9 billion. This widespread asset reduction occurred as top funds locked in profits on overextended artificial intelligence gainers like NVIDIA Corporation(NVDA.US). Consequently, managers redirected capital toward semiconductor hardware infrastructure and foundational platforms like Alphabet Inc. Class A(GOOGL.US) to hedge valuation risks.

Boeing Wins China Preliminary 200 Aircraft Commitments

Boeing Company(BA.US) secured preliminary commitments for 200 aircraft to successfully reopen the Chinese market. Facilitated by the Trump administration, this milestone aims to fulfill China's aviation needs.