Most Important News

1. U.S. House Passes Government Funding Bill, Partial Shutdown to End;
2. Saudi Non-Oil Private Sector Remains Strong in January, PMI Shows Ongoing Expansion;
3. Al Majed Oud Reports Strong 2025 Results: Net Profit Up 39%;

At the close of 3/2/2025, the Tadawul All Shares Index(TASI.SA) increased by 0.07%, closing at 11328.52 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) rose by 0.13%, closing at 24043.71 points.

As of Tuesday’s close, the S&P 500 index(SPX.US) decreased by 0.84%, the NASDAQ(IXIC.US) fell by 1.43%, and the Dow Jones Industrial Average(DJI.US) decreased by 0.34%.

U.S. House Passes Government Funding Bill, Partial Shutdown to End

On Tuesday local time, the U.S. House of Representatives passed a funding agreement negotiated between President Trump and Senate Democrats, paving the way for an end to the partial government shutdown. However, the risk of a more limited funding shortfall still looms, as the Department of Homeland Security is only funded through February 13, while Trump is negotiating with Democrats over proposed new restrictions on immigration enforcement. Other government departments will receive funding through the end of the fiscal year on September 30.

Saudi Non-Oil Private Sector Remains Strong in January, PMI Shows Ongoing Expansion

Saudi Arabia’s non-oil private sector continued robust growth in January, with the Riyad Bank/S&P Global PMI at 56.3—well above the expansion threshold of 50, but down from 57.4 in December. Growth was driven by strong output, rising demand, and improved client activity, reflecting progress under Vision 2030 to diversify the economy. Hiring growth stayed positive, though slower than in previous months. Non-oil GDP rose 4.9% in 2025, and firms remain optimistic for continued expansion into 2026, supported by increased orders and resilient domestic and export demand.

Foreign Buying of Saudi Stocks Hits $1.33bn Ahead of Rule Change

Foreign investors bought a net $1.33 billion in Saudi stocks during January, the highest monthly inflow since 2022 (excluding special events), as the market prepares to open fully to all non-resident investors in February. Saudi shares rose 10.6% after the announcement, with strong gains in banking and other key sectors. Foreigners accounted for 41.7% of January purchases, up from 5.6% in 2018. The new rules are expected to boost Saudi stocks’ weight in emerging-market indices, increase liquidity, and draw more global investment.

KSA Stocks

Saudi Aramco Raises $4bn in Multi-Tranche Bond Sale Amid Strong Demand

Saudi Arabian Oil Co.(2222.SA) has raised $4 billion through a multi-tranche bond sale, with maturities ranging from 2029 to 2056, amid robust investor demand for Gulf debt. The bonds, listed in London, achieved attractive pricing, reflecting investor confidence in Aramco’s strong financial position. This latest issuance follows multiple successful debt sales in 2024. Proceeds will support Aramco’s capital expenditures and strategic projects, further optimizing its capital structure and enhancing shareholder value.

Al Majed Oud Reports Strong 2025 Results: Net Profit Up 39%

Al Majed Oud Co.(4165.SA) posted a net profit of SAR 217.6 million for 2025, a 38.6% increase from SAR 157 million in 2024. Sales rose 19.2% to SAR 1.10 billion, driven by expansion into new markets, improved operational efficiency, and new product launches. Operational profit grew 33% to SAR 237.5 million. Earnings per share reached SAR 8.7, up from SAR 6.28. Shareholders' equity rose 24.8% to SAR 584.3 million. Auditors issued an unmodified opinion with no issues reported.

USA Stocks

Nvidia Plans $20 Billion Investment in OpenAI, Deal Not Finalized

NVIDIA Corporation(NVDA.US) CEO Jensen Huang has revealed that the company’s planned investment in OpenAI is “on track.” Nvidia intends to participate in OpenAI's next investment round and hopes to be involved in the company's eventual IPO. According to a recent Bloomberg report, Nvidia is close to reaching an agreement to invest $20 billion in OpenAI as part of the company's latest funding round. This would mark Nvidia’s largest single investment in OpenAI to date. However, sources say the deal is not yet finalized, and terms could still change.

AMD Q4 Data Center Revenue Soars Nearly 40% to Record High, Q1 Guidance Disappoints

Advanced Micro Devices, Inc.(AMD.US) posted Q4 revenue that topped $10 billion for the first time, marking a year-over-year growth rate of over 30%. While EPS growth slowed, it still surpassed analyst estimates by nearly 16%. Data center revenue surged to a record $5.4 billion, fueled in part by MI308 chip sales in China, accounting for roughly $390 million. However, U.S. export restrictions resulted in about $440 million in 2025 inventory and related charges. For Q1, revenue guidance was set at a midpoint of $9.8 billion, slightly above consensus but falling short of some bullish expectations above $10 billion. CEO Lisa Su projected annual data center revenue growth of 60% over the next three to five years. Shares declined after hours following the guidance release.