Most Important News

• EIC Net Profit Jumps 48%
• Saudi Ceramics Reports 3,737% Profit Surge
• Tesla Falls on Q2 Miss, Musk: "Expect Tough Quarters"
• Trump Once Mulled Splitting Nvidia

1. Market Summary

On Wednesday, Saudi Arabia’s Tadawul All Shares Index(TASI.SA) surged by 1.3%, closing at 10,983.93. The parallel market, Parallel Market Capped Index (NomuC)(NOMUC.SA), up by 0.14%, ending at 26,778.15. Heavyweights Saudi Arabian Oil Co.(2222.SA) up by 0.92% and Al Rajhi Bank(1120.SA) up by 1.05%.

Sport Clubs Co.(6018.SA), surged 18% on its second trading day on TASI. Read more: New Listing Alert: Sport Clubs (6018) to Hit Saudi Market on July 22

S&P 500 index(SPX.US) futures were little changed on Thursday morning after the benchmark notched another record close, fueled by hopes for progress on trade deals.

Futures tied to the index climbed 0.1%, while NASDAQ(IXIC.US)100 futures were about 0.4% higher. Futures tied to the Dow Jones Industrial Average(DJI.US) fell 104 points, or 0.2%.

2. Quick News

KSA Launches Self-Driving Car Trials

Saudi Arabia has launched the pilot phase of autonomous vehicle operations in Riyadh, covering King Khalid International Airport and key city locations. Overseen by the Transport General Authority, the program includes partnerships with Uber, SDAIA, WeRide, and others, aiming to test AV safety and system performance in real conditions.

POS Hits SR12.2B Despite Decline

Saudi Arabia’s point-of-sale (POS) spending totaled SR12.19 billion ($3.25 billion) in the week ending July 19, despite a 7.1% weekly decline. Hotel spending rose 2.1% to SR287.44 million, bucking broad sectoral drops, while Riyadh led in regional POS activity at SR4.2 billion.

Saudi Unveils AI Readiness Index

Saudi Arabia has launched a National Artificial Intelligence Index to assess and enhance AI readiness across government entities, as part of its Vision 2030 goals. The index aligns with SDAIA’s broader strategy, with AI projected to contribute $235.2 billion—or 12.4%—to the Kingdom’s GDP by 2030.

Trump Unveils Aggressive AI Strategy

Former U.S. President Donald Trump has unveiled the American AI Action Plan, aiming to secure the country’s undisputed global leadership in artificial intelligence. The plan outlines over 90 executive actions across innovation, infrastructure, and diplomacy, while easing AI regulations and identifying China as a key competitor. >> Which Stocks Will Benefit Most? | Exclusive

Few Nations Face 50% U.S. Tariff

Donald Trump has proposed a new “reciprocal tariff rate” policy, stating he will not set rates below 15% ahead of the August 1 deadline. Speaking at the Washington AI Summit, he emphasized a uniform tariff framework between 15% and 50%, with select countries facing the highest rate due to strained relations.

3. Stocks To Watch

KSA Stocks

EIC Net Profit Jumps 48%

Electrical Industries Co.(1303.SA) posted a 47.9% YoY increase in H1 net profit to SAR 260.1 million, driven by a more profitable product mix and sustained sector-wide demand—particularly in high-voltage and industrial projects. While H1 revenue held steady at SAR 1.04 billion, gross profit rose 18.5%, with operational profit up 36.4%. Second-quarter net profit rose 35.9% YoY to SAR 136.7 million, benefiting from export growth and stronger margins. >> Read More

Saudi Ceramics Reports 3,737% Profit Surge

Saudi Ceramic Co.(2040.SA) reported a significant turnaround in performance, posting SAR 133.3 million in H1 net profit versus SAR 3.5 million a year earlier—a 3,737% surge—driven by a SAR 120 million insurance settlement related to last year's factory fire. Revenue for the period rose 8.5% to SAR 674.7 million, supported by higher water heater sales and improved gross profit. Operational profit jumped over 360%, reflecting stronger product volumes and pricing. >> Read More

Alinma Bank Q2 Net Profit Rises 11%

Alinma Bank(1150.SA) reported a strong second quarter, with net profit rising 11.1% YoY to SAR 1.57 billion, supported by a 7.3% increase in operating income. For H1, profit climbed 12.8% to SAR 3.08 billion, driven by higher financing and investment returns. The bank also announced a SAR 0.30 per share cash dividend for Q2, totaling SAR 746 million, with distribution scheduled for August 21. Loans grew 15.1% YoY, while provisions for credit losses declined by 14.1%, attributed to improved asset quality. >> Read More

USA Stocks

Tesla Falls on Q2 Miss, Musk: "Expect Tough Quarters"

Tesla Motors, Inc.(TSLA.US) reported Q2 revenue of $22.5 billion and EPS of $0.40, both missing expectations, sending shares down over 5% in night-hours. Revenue dropped 12% YoY, with auto sales down 16% and carbon credit revenue halved. Despite record profits in energy storage and growth in services, Elon Musk warned investors to "buckle up" for potentially “very difficult” quarters ahead due to macro uncertainty and EV policy shifts. Tesla reaffirmed product timelines, including mass production of its affordable model and Cybercab in 2025, while preparing broader FSD rollout in China pending regulatory approval.

Alphabet Q2 Tops Forecasts, Stock Up

Alphabet Inc. Class A(GOOGL.US) shares rose nearly 2% in after-hours trading as Q2 results beat expectations, driven by strong cloud and search ad revenues. The company raised its 2025 capital expenditure forecast to $85 billion, $10 billion above prior guidance, prompting some investor concern over future profitability.

Trump Once Mulled Splitting Nvidia

At the July 23 AI Summit in Washington, Donald Trump revealed he had considered breaking up NVIDIA Corporation(NVDA.US) to foster more AI chip competition but later found it “not easy.” He praised Nvidia’s dominance and CEO Jensen Huang, who in turn lauded Trump’s AI leadership, calling it a uniquely American advantage.

4. Saudi Stock Calendar