Most Important News

1. Trump Tells Congress Iran Conflict Resumes, Deal Still Possible;
2. SK Hynix ADR Drops 9% on Profit Concerns, Slow HBM Price Growth;
3. SpaceX Shares Drop Near IPO Price as FAA Clears Next Starship Launch;

At the close of 13/7/2026, the Tadawul All Shares Index(TASI.SA) decreased by 0.16%, closing at 10801.71 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) fell by 0.07%, closing at 22539.59 points.

As of Monday’s close, the S&P 500 index(SPX.US) decreased by 0.79%, the NASDAQ(IXIC.US) fell by 1.55%, and the Dow Jones Industrial Average(DJI.US) decreased by 0.26%.

Trump Tells Congress Iran Conflict Resumes, Deal Still Possible

President Trump officially informed Congress that U.S. forces launched "defensive strikes" on Iranian targets on the 7th, reigniting tensions. His letter intensified disputes between Congress and the White House, as lawmakers had previously voted to restrict Trump's war powers. The White House insists Trump acted within his constitutional authority. Trump said Iran has reestablished contact with the U.S., but military pressure will continue. 

OPEC: UAE Oil Output Surges 80% in June; 2026 Global Demand Forecast Cut

The UAE’s crude oil production jumped to 3.8 million barrels per day in June, up 1.71 million barrels from May, after the UAE exited OPEC and production limits in early May. The UAE also maintained exports by bypassing the Strait of Hormuz amid US-Iran tensions. Russia’s output in June was 8.93 million barrels per day, 834,000 barrels below its target, due to attacks on oil infrastructure by Ukraine. OPEC lowered its 2026 global oil demand growth forecast to 780,000 barrels per day amid ongoing Middle East instability.

Fed’s Waller: Rate Hike Possible if Core Inflation Stays High

Fed Governor Waller said if Tuesday’s CPI data is strong, the FOMC may consider tightening policy—his clearest hint yet at supporting a summer rate hike. After his comments, markets raised July rate hike odds to 45% from 35%.

PIF, I Squared Ink $2bn Saudi Infrastructure Deal

Saudi Arabia’s Public Investment Fund (PIF) and I Squared Capital have signed a non-binding MoU for up to $2 billion in infrastructure investments. Each will allocate up to $1 billion to digital infrastructure and district cooling projects, key to PIF's real estate portfolio and Vision 2030 goals. The agreement aims to speed project delivery and attract more international capital, pending further review and approvals. I Squared Capital, a major global investor, manages $60 billion in assets across over 70 countries.

KSA Stocks

Armah Sports Applies to Move from Parallel to Main Market

Armah Sports Co.(9590.SA) applied to transfer its listing from the Parallel Market to the Main Market, following board approval last year. Any updates on the process will be announced in due course.

MSGA Signs SAR 700M Riyadh Real Estate Fund Deal

MSGA Investment Co.(9655.SA)’s subsidiary signed a deal with Dinar Investment and Asar Investment to launch a SAR 700 million private fund to develop a 1,000-unit residential project in Riyadh’s Al-Wisam District. The land is valued at SAR 259.6 million, with development fees capped at 15% of costs. The agreement is valid for 90 days or until the fund is established, with positive financial impact expected in 2027–2028, pending completion and regulatory approval.

USA Stocks

SK Hynix ADR Drops 9% on Profit Concerns, Slow HBM Price Growth

SK hynix Inc. Sponsored ADR(SKHY.US) fell 9.3% on its second day of US trading, erasing first-day gains, as markets reevaluated its profit outlook. Analysts expect Q2 operating profit to miss consensus by 8%, citing a high share of HBM memory sales, where prices rise slowly due to long-term contracts. The company is also reportedly considering buying Korean government bonds, though no formal plans have been confirmed.

SpaceX Shares Drop Near IPO Price as FAA Clears Next Starship Launch

SpaceX(SPCX.US) shares fell for a second straight day, nearing the $135 IPO price. Meanwhile, the FAA completed its review of May’s Starship booster failure and approved SpaceX’s corrective actions, allowing preparations for Starship Flight 13 to proceed if all safety requirements are met. The launch window opens Thursday at 6:45 p.m. ET.