Most Important News

1. U.S. Says Strait Deal Near, Brent Crude Falls Below $80;
2. Marafiq Reports SAR 81.11 Million Net Profit for H1 2026 Amid Rising Costs;
3. Palantir Soars 29.5% as Results Beat Expectations and Full-Year Guidance Is Raised;

At the close of 4/8/2026, the Tadawul All Shares Index(TASI.SA) increased by 0.32%, closing at 10858.14 points; the Parallel Market Capped Index (NomuC)(NOMUC.SA) increased by 1.11%, closing at 22159.27 points.

As of Tuesday’s close, the S&P 500 index(SPX.US) increased by 1.79%, the NASDAQ(IXIC.US) rose by 2.59%, and the Dow Jones Industrial Average(DJI.US) increased by 1.71%.

U.S. Says Strait Deal Near, Brent Crude Falls Below $80

U.S. Treasury Secretary Besant said on Tuesday that an agreement regarding the Strait of Hormuz could be reached on the 4th or 5th. On the same day, U.S. Secretary of State Rubio also stated that negotiations with Iran on reopening the strait "have made progress," though a final deal has not yet been concluded. According to Reuters, citing informed sources, Iran has abandoned its previous demand for full control over two-way shipping in the Strait of Hormuz, and is instead proposing to take responsibility for managing the passage of all vessels entering the strait, while retaining oversight and the right to intervene as necessary for ships leaving the strait. 

Besant Defends Walsh, Says Market Undergoing Fed "Detox" from Excessive Forward Guidance

U.S. Treasury Secretary Scott Besant said on Tuesday that he is not convinced a rate hike is necessary. Besant defended embattled Fed Chair Kevin Walsh, saying that the market's poor reaction to Walsh's press conference last week simply showed that traders are adjusting to the central bank's reduced "hand-holding." "I think this is a kind of ‘detox’ for both financial markets and financial journalists," Besant said in a media interview, adding that it was wise for Walsh to avoid giving "forward guidance" or explicitly indicating the likely path of interest rates. He said that such practices contributed to the surge in inflation five years ago and made it difficult to change policy direction if needed.

KSA Stocks

Marafiq Reports SAR 81.11 Million Net Profit for H1 2026 Amid Rising Costs

The Power and Water Utility Company for Jubail and Yanbu(2083.SA) announced a net profit of SAR 81.11 million for the first half of 2026, down 64% year-on-year, despite a 13.6% rise in revenue to SAR 3.53 billion. The drop in profit was mainly due to higher fuel, maintenance, and transmission costs, along with lower other operating income. In the second quarter, Marafiq posted a net loss amid weaker water segment demand in Jubail Industrial City.

Tamkeen HR Posts SAR 53.8 Million Net Profit for H1 2026 on Higher Individual Services Revenue

Tamkeen Human Resource Co.(1835.SA) reported a net profit of SAR 53.8 million for the first half of 2026, up 2.9% year-on-year, as revenue grew 6.1% to SAR 539.2 million. Growth was driven by a surge in Individual Services, while the Corporate segment softened due to competitive pricing. Gross profit declined, but lower credit loss provisions and higher resource deployment supported profit gains. Net profit rose 8.9% quarter-on-quarter to SAR 28.1 million.

Taiba Investments Posts SAR 197.6 Million H1 2026 Net Profit Despite Higher Expenses

Taiba Investments Co.(4090.SA) reported a net profit of SAR 197.6 million for the first half of 2026, down 17.1% year-on-year despite a 4.8% revenue rise to SAR 762.5 million, driven by higher hotel portfolio revenues and new property openings. The profit decline was mainly due to higher operating and depreciation costs from the new properties and the absence of last year’s one-off legal provision reversal; adjusted for this, net profit would have risen 3.5%. Quarterly, net profit and revenue dropped due to lower hotel occupancy and increased expenses.

USA Stocks

SpaceX Falls Over 7% After Hours Despite 92% Surge in Q2 Revenue; Capex Jumps to $18.4 Billion

SpaceX(SPCX.US) Q2 revenue jumped 92% year-on-year to $7.8 billion, beating estimates; adjusted EBITDA rose 191% to $3.5 billion, well above forecasts. Starlink contributed over half of total revenue, up 66%, and AI revenue soared 250% with narrowing losses. Overall operating loss dropped sharply to $143 million from $970 million a year ago. CEO Elon Musk announced SpaceX will exclusively use NVIDIA for AI infrastructure. However, capital expenditures surged to $18.4 billion. With about 911.5 million shares becoming tradable on August 6, analysts believe the stock drop reflects concerns over high valuation, lockup expiry, and cash burn—despite strong results. AI-related capital spending also added pressure.

Palantir Soars 29.5% as Results Beat Expectations and Full-Year Guidance Is Raised

Palantir(PLTR.US) announced its second-quarter results: adjusted earnings per share were $0.41, surpassing the market expectation of $0.35; revenue rose 93% year-over-year to $1.94 billion, also significantly exceeding the projected $1.8 billion. During the earnings call, CFO David Glazer announced that the midpoint of the company’s full-year 2026 revenue guidance was raised to $8.154 billion, up about 11 percentage points from last quarter’s guidance—marking the largest increase in full-year guidance in the company’s history.