At the close of 30/07/2026, the Tadawul All Shares Index(TASI.SA) up by 0.43%, closing at 10589.72 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) up by 0.30%, closing at 21834.98 points. 

The US major averages were markedly higher Friday, the last trading session in July, as investors looked past rising bond yields and Amazon.com, Inc.(AMZN.US) shares jumped.

The NASDAQ(IXIC.US) Composite rose 1% to end at 25,373.85, while the S&P 500 index(SPX.US) added 0.7% to close at 7,489.72. The Dow Jones Industrial Average(DJI.US) gained 276.97 points, or 0.53%, to 52,485.03.

The 30-year Treasury bond yield spiked to its highest levels since 2007 this week. It was last up about 4 basis points on the day at 5.25%. The benchmark 10-year Treasury note yield topped 4.7% on the day, its highest level since January 2025.

The moves come as investors lost faith in Federal Reserve Chairman Kevin Warsh’s commitment to curb inflation, leading yields to jump. While Warsh indicated he is committed to the inflation fight, he did say this week, “We’ve got no magic wand.”

“As the yield for 10-year Treasury bonds moves toward five percent, five percent is perhaps a level that will cause angst for sentiment and pressure valuations,” Terry Sandven, chief equity strategist at US Bancorp Asset Management, told CNBC.

The strategist underscored that this “is a roller coaster market filled with angst and opportunity.”

“On one hand, there’s much to like about the market environment. Inflation is relatively steady, interest rates are range bound, and earnings are robust,” Sandven said. “Conversely, you’ve got Middle East conflict, the Middle East conflict that continues, and that’s pushing oil prices higher, which of course is inflationary.”

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Trump Says He Agreed to Call Off Iran Attack

US President Trump announced he has agreed to cancel a military attack on Iran, provided a deal is reached swiftly, after receiving requests from Iran and other Middle Eastern nations. He said a framework exists that includes the full opening of the Strait of Hormuz and an end to Iran's nuclear threat, with Israel also committed.

Fed Chair Warsh Eyes Fewer Rate-Setting Meetings

Fed Chair Warsh is weighing a reduction in the FOMC's annual meeting schedule, which would break the eight-meeting tradition established in 1981. The move, aimed at reshaping Fed operations, would cut voting opportunities and potentially reduce policy transparency, reversing decades of increased communication. A decision may be finalized before the September meeting, though implementation could come later.

KSA Stocks

Jabal Omar Q2 Swings to 158M Profit from 42M Loss

Jabal Omar Development Co.(4250.SA) swung to a Q2 net profit of 158 million riyals from a 42 million riyals loss a year earlier, as revenue rose 42.5% to 715 million riyals on stronger hotel performance during Hajj and the Rotana opening. H1 net profit fell 70% to 275 million riyals due to exceptional land-sale gains and zakat reversals in the prior-year period, despite gross profit growing 82 million riyals and impairment provisions declining 206 million riyals.

Sport Clubs Q2 Net Profit Surges 101%

Sport Clubs Co.(6018.SA) reported Q2 net profit of 13.8 million riyals, up 101% YoY and 213% sequentially, as revenue rose 26% to 106.4 million riyals on active member growth of 22.5% to 168,400. The company opened five new clubs in the quarter, bringing its total to 63, while gross margin improved to 31.9% from 25.3% in Q1.

Saudi Darb Q2 Net Profit Surges 39.6% Despite Revenue Drop

Saudi Darb Investment Co.(4130.SA) reported Q2 net profit of 2.19 million riyals, up 39.6% YoY, despite a 12.9% revenue decline to 4.01 million riyals, driven by a 402,636 ECL reversal and 54% lower professional fees. H1 net profit rose 9.2% to 3.16 million riyals. The auditor emphasized a SAR 26.1 million riyals provision related to an asset exchange case.

Saudi Chemical H1 Net Profit Up 10.6% on Lower Finance Costs

Saudi Chemical Co.(2230.SA) reported record quarterly revenue of 1.84 billion riyals in Q2, up 4.3% YoY, with net profit rising 16% to 80.6 million riyals. H1 net profit grew 10.6% to 167.8 million riyals on lower finance costs and reduced credit losses, while operating cash flow swung to positive 182.1 million riyals from a 50.4 million riyals outflow a year earlier.

Elm H1 Net Profit Rises 7.7%, Declares SAR 5/share Dividend

Elm Co(7203.SA) reported H1 net profit of 1.17 billion riyals, up 7.7% on revenue of 4.997 billion riyals (+21.2%). Q2 profit fell 13% to 513 million riyals as operating expenses surged 24.8%, offsetting a 12.5% revenue rise. The board declared an interim dividend of 5 riyals per share, totaling 389.9 million riyals, payable Aug 16. An earnings call is set for Aug 3.

Saudi Printing Q2 Net Loss Narrows to 24.8M Riyals

Saudi Printing and Packaging Co.(4270.SA) reported a Q2 net loss of 24.8 million riyals, narrowing from 31.2 million riyals a year ago, as revenue fell 26% to 108 million riyals. H1 revenue dropped 33% to 199.8 million riyals, while accumulated losses reached 607.9 million riyals (93% of capital). The auditor cited material uncertainty over going concern, though the stock gained 4.71% on the day, before the results are made.

Abo Moati's H2 Dividend Set at 0.5 Riyal Per Share

Abdullah Saad Mohammed Abo Moati for Bookstores Co.(4191.SA) announced a 5% cash dividend for the second half of fiscal 2026, totaling 10 million riyals at 0.5 per share. Shareholders of record on Sept 1 will receive the payout on Sept 15.

Almunajem Foods Reveals Financing Plan for Al Jouf Investment

Almunajem Foods Co.(4162.SA) updated its binding subscription agreement for Al Jouf Agricultural, stating it will finance the deal via internal resources and bank facilities. The company confirmed no related parties are involved and said there is no immediate financial impact from this addendum.

USA Stocks

Amazon Surges 15% as Tech Stocks Stage V-Shaped Rebound

Amazon.com, Inc.(AMZN.US) surged over 15% after earnings, while Microsoft Corporation(MSFT.US) gained 3% and Apple Inc.(AAPL.US) fell on post-earnings weakness, with Micron Technology, Inc.(MU.US) among AI names pulling back. The S&P 500 index(SPX.US) rose 0.7%, NASDAQ(IXIC.US) added 1%, and the Dow Jones Industrial Average(DJI.US) gained 0.53%, as Roundhill Magnificent Seven ETF(MAGS.US) rallied 3.2% overall. Still, the NASDAQ(IXIC.US) lost 3.2% for July, its worst since 2004.

Kioxia Plunges 10%, Micron Tumbles 5.9%

AI stocks were mixed Friday as storage names sold off on Kioxia's disappointing earnings, with KIOXIA HOLDINGS CORPORATION(KXIAY.US) plunging 10.1%, Micron Technology, Inc.(MU.US) falling 5.9%, Sandisk Corporation(SNDK.US) dropping 5.1%, and SK hynix Inc. Sponsored ADR(SKHY.US) sliding 3.5%, while Western Digital Corporation(WDC.US) gained 2.2% and Seagate Technology Holdings PLC(STX.US) edged up 0.5%. Meanwhile, semiconductor equipment and optical names like Applied Materials, Inc.(AMAT.US), Teradyne, Inc.(TER.US), Lumentum Holdings, Inc.(LITE.US), Coherent Corp.(COHR.US), Ciena Corporation(CIEN.US), and Credo Technology(CRDO.US) extended their gains from Thursday.

SpaceX Short Interest Exceeds Tesla as Stock Hits New Low

Apple Inc.(AAPL.US) tumbled after earnings, shedding $358 billion in market value and ceding the top spot to NVIDIA Corporation(NVDA.US). SpaceX(SPCX.US) also fell to a post-IPO closing low, with short interest at 2.19 billion shares (34% of float), surpassing Tesla Motors, Inc.(TSLA.US)'s short bets, as a 9.1-billion-share lockup expires next week. Musk's net worth shrank to $680 billion, down over $600 billion from its June peak, as SpaceX(SPCX.US) dropped 46% from highs and Tesla Motors, Inc.(TSLA.US) fell 17% post-earnings.

Goldman Warns AI Alpha Reversal and Capex Risk

Cloud giants posted their best weekly outperformance versus the NASDAQ-100(NDX.US) on record, driven by Amazon.com, Inc.(AMZN.US) and Microsoft Corporation(MSFT.US)'s strong earnings. With Alibaba Group Holding Ltd. Sponsored ADR(BABA.US) and Alphabet Inc. Class A(GOOGL.US) also rising. However, Goldman warns AI alpha dominance is reversing and spending guidance risks loom, while Bespoke questions if AI weakness is a long-term turn or rebalancing.