Most Important News

1. Fed Holds Rates Steady for Fifth Consecutive Time;
2. SIIG Profit Soars 411% to SAR 194M in H1 2026, Q2 Loss at SAR 58M;
3. Thimar Development Narrows Losses Amid Going-Concern Doubt;
4. SPIMACO Adds Cigalah as Second Gulf Distributor;

At the close of 29/07/2026, the Tadawul All Shares Index(TASI.SA) dropped by 1.25%, closing at 10544.1 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) dropped by 0.49%, closing at 21769.81 points. 

Wall Street's three main indexes fell Wednesday. The Dow Jones Industrial Average(DJI.US) dropped 2.19% to 51,594.14, the NASDAQ(IXIC.US) slid 1.74% to 24,442.94, and the S&P 500 index(SPX.US) declined 1.52% to 7,316.15.

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IMF Praises Saudi Economy's Resilience Amid Middle East Conflict

The International Monetary Fund commended Saudi Arabia's economic resilience amid regional conflict that disrupted shipping and oil exports, crediting Vision 2030 reforms. Directors said outlook risks remain tilted downward but urged policy flexibility. The IMF projects 1.7% growth in 2026, with non-oil GDP expanding 2.6%, backed by stable employment and government spending.

US Military Drafts Two-Week Intensive Airstrike Plan Against Iran

US President Trump is weighing a punitive air campaign against Iran, the Wall Street Journal reported. Central Command chief Brad Cooper proposed 10-14 days of intensive strikes to cripple Iranian missile capabilities, despite warnings of dwindling air-defense munitions. Vowing retaliation after Tuesday's missile attack, Trump could alternatively opt for restrained strikes, preserving diplomatic options.

Fed Holds Rates Steady for Fifth Consecutive Time

The US Federal Reserve kept its benchmark rate at 3.50%-3.75% for a fifth straight meeting. Nine FOMC members backed the decision, while three dissented, favoring a 25-basis-point hike. The Fed noted solid economic growth despite heightened uncertainty from the Middle East conflict, steady unemployment, and inflation above its 2% target, driven largely by supply-side shocks.

KSA Stocks

SIIG Profit Soars 411% to SAR 194M in H1 2026, Q2 Loss at SAR 58M

Saudi Industrial Investment Group(2250.SA) posted a net profit of SAR194 million for H1 2026, a 410.5% increase from SAR38 million in H1 2025. The rise was driven by higher selling prices and reduced depreciation costs. However, Q2 2026 saw a net loss of SAR58 million due to higher feedstock costs, lower sales volumes, and increased administrative expenses. 

Thimar Development Narrows Losses Amid Going-Concern Doubt

Thimar Development Holding Co.(4160.SA) trimmed its second-quarter net loss 47% to SAR2.37 million, helped by SAR858,000 in fair-value investment gains and lower general expenses. First-half losses narrowed 34.6% to SAR5.82 million, though equity sank 67.2% to SAR5.22 million. Auditors flagged material going-concern uncertainty, with accumulated losses at SAR96.6 million, or 149% of capital.

SPIMACO Adds Cigalah as Second Gulf Distributor

Saudi Pharmaceutical Industries and Medical Appliances Corp.(2070.SA) signed five-year distribution agreements on Wednesday with Cigalah Medical's units in the UAE and Qatar, naming the group its second distributor in those markets. The deals are renewable for two years and carry no fixed value, since compensation depends on sales volumes. The company said no financial impact is expected. 

USA Stocks

Microsoft Corporation Surges Nearly 8% as Q4 Results Beat Expectations, Cuts Capex Guidance

Microsoft Corporation(MSFT.US) posted quarterly revenue up 18% to US$90.01 billion for the fiscal fourth quarter ended June 30, 2026, beating estimates by 2.6%. Adjusted EPS rose 23% to US$4.74, exceeding forecasts by 11.5%. Azure grew 43%, topping expectations. The company lowered its FY2027 capital expenditure guidance to US$175 billion from US$190 billion, citing positive free cash flow.

Meta Slides Over 7% After Soft Q3 Outlook, Four-Year Low Free Cash Flow

Meta Platforms(META.US) fell more than 6% after hours despite Q2 revenue climbing 28% to US$60.8 billion, topping the US$60.3 billion consensus. Q3 guidance of US$61 billion to US$64 billion, midpoints below estimates. The company lifted the floor of its 2026 capex range to US$130 billion, and US$31.08 billion in spending left free cash flow at just US$784 million.

SpaceX Lands US$1.6 Billion Space Force Launch Deal

The US Space Force said Tuesday that SpaceX(SPCX.US) won a US$1.6 billion contract covering 18 Falcon 9 launches through the end of 2027. The missions will carry military satellites designed to detect and track airborne targets.