Most Important News

• Fed Holds Rates Steady for Fifth Consecutive Meeting
• YC, MCDC H1 Net Profits Rise 32%, 15% Respectively
• MSFT, META Earnings Beat, Shares Surge After-hours

1. Market Summary

Saudi Arabia's benchmark index Tadawul All Shares Index(TASI.SA)  picked up 0.8% on Wednesday, driven by broad sector gains and investor enthusiasm ahead of major earnings announcements from Saudi Basic Industries Corp.(2010.SA)  and Saudi Arabian Oil Co.(2222.SA)  due next week.

The S&P 500 gave up earlier gains and closed lower on Wednesday after Federal Reserve Chair Jerome Powell signaled the central bank isn't ready to cut rates, as it assesses the impact of President Donald Trump's higher tariffs on the inflation picture.

The S&P 500 index(SPX.US)  slipped 0.12% and closed at 6,362.90. The Dow Jones Industrial Average(DJI.US)  fell 171.71 points, or 0.38%, closing at 44,461.28. The NASDAQ(IXIC.US)  gained 0.15% and ended at 21,129.67. At their session highs, the S&P 500 was up by as much as 0.4%, while the Dow was up 0.2%.

2. Quick News

Saudi Arabia to Construct 1,000 Rainwater Dams with 4 Million m³ Annual Capacity

Saudi Arabia is set to build 1,000 rainwater harvesting dams with an annual capacity of 4 million cubic meters, as part of its significant efforts in environmental conservation, water sustainability, and food security in line with its Vision 2030 goals, according to Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadley.

Fed Holds Rates Steady for Fifth Consecutive Meeting; Unusual Disagreement

The Federal Reserve kept its benchmark interest rate unchanged at the range of 4.25%-4.50%, in line with market expectations, marking the fifth consecutive meeting with no change. An unusual disagreement emerged in the decision-making process, and the statement did not specify when rate cuts might occur.

Trump Announces 50% Tariffs on Imported Semi-Finished Copper Products

On July 30th, local time in the White House, US President Trump declared that a 50% universal tariff will be imposed on imported semi-finished copper products and copper-intensive derivative products, effective from August 1st.

3. Stocks To Watch

KSA Stocks

Al Waha REIT's Additional Offering 109.6% Covered, Raises SAR 24.9M

Wasatah Capital, the fund manager of Alwaha REIT Fund(9300.SA) , announced the successful completion of an additional offering to increase the fund's gross asset value (GAV), aimed at acquiring new real estate assets, as per a statement to Tadawul.

MCDC Reports 15% H1 Profit Increase

Makkah Construction and Development Co.(4100.SA)   reported a net profit of SAR 294 million for the first half of 2025 (H1 2025), marking a 15% increase from SAR 256 million in the corresponding period of the previous year. In the second quarter of 2025 (Q2 2025), the net profit grew by 1% to SAR 144 million, up from SAR 142.5 million in the year-earlier period.

TALCO Sees 2% Drop in H1 2025 Net Profit, 2.7% Rise in Q2

Al Taiseer Group Talco Industrial Co.(4143.SA)  (TALCO) reported a 2% decrease in net earnings to SAR 43 million in the first half of 2025, compared to SAR 44 million in the previous year. In Q2 2025, net earnings increased by 2.7% to SAR 21.43 million, compared with SAR 20.87 million a year earlier.

YC's H1 2025 Profit Jumps 32% to SAR 263M

Yamama Cement Co.(3020.SA)  recorded a net profit of SAR 263.1 million in H1 2025, up 32% from SAR 199.7 million in the year-earlier period. Q2 2025 net profit reached SAR 121 million, marking a 43% increase from SAR 84.62 million in the corresponding period of the previous year, driven by higher sales volumes.

SIIG's H1 2025 Profit Plunges 59% to SAR 38M; Q2 at SAR 20M

Saudi Industrial Investment Group(2250.SA)  saw its net profit drop by 59% to SAR 38 million in the first half of 2025 (H1 2025), down from SAR 92 million in the same period a year earlier. Net profit dropped by 60% to SAR 20M.

eXtra Board Approves 20% Dividend for H1 2025

On July 30, the board of United Electronics Co.(4003.SA)  (eXtra) declared a 20% cash dividend, equating to SAR 2 per share, for the first half of 2025 (H1 2025).

USA Stocks

Microsoft Q2 Revenue Growth Hits 18-Month High, Shares Soars 8% After-hours

Microsoft Corporation(MSFT.US)  reported its strongest quarterly revenue growth in 1.5 years, with EPS accelerating to 24% YoY and Azure/cloud services surging 39% (2.5-year high), while disclosing Azure's annual revenue exceeded $75 billion (up 34% FY2024). Record $24.2 billion capital expenditure (+13% QoQ) signaled intensified AI infrastructure investment, sending shares up 8% after-hours.

Meta Q2 Profit Beats Estimates, Shares Jump 11% After-Hours

Meta Platforms(META.US)  reported Q2 revenue of $47.52 billion (up 22% YoY, above $44.83 billion consensus) with net profit rising 36% to $18.34 billion, while raising the lower end of its full-year capital expenditure guidance. The stock gained 11% in extended trading.

Arm Misses Estimates, Consults Shift to Full Chip Maker; Shares Drop 9% After-Hours

Arm Holdings(ARM.US)  reported quarterly results slightly below analyst expectations in Wednesday's after-market release, with CEO Rene Haas revealing investments to develop proprietary chips - signaling a potential major transformation from its current IP licensing model. The stock fell nearly 9% in extended trading.

Qualcomm Q2 Revenue Tops Views But Smartphone Weakness Sparks 5% After-Hours Drop

QUALCOMM Incorporated(QCOM.US)  reported Q2 revenue growth slowing to 10% YoY (beating estimates but down from Q1 pace), with key smartphone chip sales rising just 7% (below 10% expected), while IoT revenue - including Meta's smart glasses - grew 24%. Shares fell nearly 5% post-market.

Ambiq Surges 61% in US IPO Debut, Extends Gains After-Hours

AI ultra-low-power semiconductor maker Ambiq Micro(AMBQ.US)   soared 61% on its first trading day, opening at $38 (vs. $24 IPO price) with trading halts triggered twice, after raising $96 million through a 4-million-share offering. The stock climbed another 8% in post-market trading.

4. Saudi Stock Calendar