At the close on 09/07/2026, the Tadawul All Shares Index(TASI.SA) dropped by 0.42%, closing at 10808.43 points, while the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.61%, closing at 22731.62 points. 

On Friday, US stocks continued their rally, with the S&P 500 index(SPX.US) closing up 0.42% at 7,575.39, nearing its June 2 record. The Nasdaq and Dow both increased by 0.29%. Tech stocks led gains, with SK Hynix Inc.(SKHYV.US) surging over 13% on its debut and Meta Platforms(META.US) rising around 6%, as AI trading regained focus. Despite escalating tensions with Iran, markets remained resilient, focusing on the upcoming earnings season.

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Tensions Escalate as Iran Closes Strait of Hormuz

On July 12, Iran's Revolutionary Guard announced the closure of the Strait of Hormuz, demanding the US cease its interference. In response to attacks on civilian ships, the US launched strikes against Iran, which retaliated by targeting US interests in multiple Middle Eastern countries. Explosions were reported in Bahrain, Jordan, Kuwait, Qatar, and the UAE. The situation marks a significant escalation in military confrontation between the two nations.

Fitch Maintains Saudi Arabia's 'A+' Rating with Stable Outlook

Fitch Ratings has reaffirmed Saudi Arabia's 'A+' sovereign credit rating with a stable outlook, citing its strong fiscal position and substantial financial reserves. The agency highlighted that the Kingdom's debt levels and net foreign assets surpass those of similarly rated nations. Despite geopolitical challenges, Saudi Arabia's non-oil economy supports resilience. Fitch forecasts GDP growth to slow to 0.6% in 2026, rebounding to 2.9% by 2028.  

U.S. Earnings Season Begins Amid High Market Vulnerability

As the U.S. earnings season kicks off, the market faces heightened vulnerability despite calm indices. UBS's "Turbu-lens" indicator hit a high of 0.9, signaling potential volatility spikes. Analysts expect S&P 500 earnings to rise by 24%, but high expectations amplify risks. Single-stock volatility is thrice the index level, with geopolitical tensions and rising oil prices posing inflation threats. Credit markets remain cautious, suggesting limited stock market support. UBS advises tactical single-stock options for better hedging opportunities.

KSA Stocks

Saudi Aramco to Announce H1 2026 Results on August 4

Saudi Arabian Oil Co.(2222.SA) has scheduled an earnings call for August 4 to discuss its financial performance for the first half of 2026. The webcast will begin at 10:00 a.m. Riyadh time. The company reported a net profit of SAR 120.1 billion in Q1 2026, marking an increase from SAR 95.7 billion in the same period last year.

SAL Signs Strategic Agreement with S.F. Airlines

SAL Saudi Logistics Services Co.(4263.SA) has announced a new agreement with S.F. Airlines Co., Ltd to provide comprehensive air cargo ground-handling services. The deal, signed on July 9, aims to enhance operational efficiency for S.F. Airlines and expand SAL's presence in the Asian market. Services will be provided on demand, and the agreement is expected to impact SAL's financials positively. The contract is renewable annually.

MEDGULF Eliminates Accumulated Losses

The Mediterranean and Gulf Insurance and Reinsurance Co.(8030.SA) announced that its accumulated losses have been reduced to 0% of its share capital. This follows the approval by the Extraordinary General Assembly to use SAR224,974 thousand from the share premium to offset losses of SAR77,823 thousand as of March 31, 2026. The company completed the necessary regulatory procedures to achieve this financial improvement.

Taiba Investment Receives Invoice for White Land Fees

Taiba Investments Co.(4090.SA) has received a SAR6,670,551.05 invoice for White Land Fees in Riyadh. The company plans to address this in line with legal and regulatory guidelines, while studying optimal land use to benefit shareholders. The financial impact will be recorded according to accounting standards. This follows their January announcement regarding developments in White Land Fees.

USA Stocks

SK Hynix's Record-Breaking IPO on the US Market

On July 9, SK Hynix Inc.(SKHYV.US) raised US$265 billion through an ADS issuance, marking the largest IPO by a foreign company in the US. The ADS, priced at US$149 each, started trading on Nasdaq under "SKHYV," with a 3.1% premium over Seoul's closing price. This surpasses Alibaba Group Holding Ltd. Sponsored ADR(BABA.US)'s 2014 record, making it a significant event in the semiconductor industry this week.

Meta Halts AI Image Tool Amid Privacy Concerns

Meta Platforms(META.US) has discontinued its AI-powered Muse Image tool just days after launch, following criticism from users and SAG-AFTRA over privacy issues. The feature, which auto-opted public Instagram accounts for image generation and editing, faced backlash for lacking clear consent mechanisms. Meta cited user feedback in its decision, reflecting growing pressure on tech firms to prioritize transparency in AI-driven content usage.