ISHRS S Arabia

AdvisorShares MSOS 2x Daily ETF

cbdMD

Tryhard

Roundhill Cannabis ETF

Neo-Concept

Amplify Seymour Cannabis ETF

AdvisorShares Pure US Cannabis ETF

Canopy Growth

RYTHM

Tilray Brands

Gulf stock markets fell as investors awaited delayed U.S. economic data. Dubai's index dropped 0.8%, with Emaar Properties down 1% and Gulf Navigation Holding down 9.7%. Saudi Arabia's index fell 0.7%, led by finance and utilities. Abu Dhabi's index edged down 0.1%, while Qatar's index was down 0.6%. U.S. monetary policy impacts Gulf markets due to currency pegs to the dollar.

Reuters

Gulf stocks track global losses as investors await key US data

ADX has approved the first-ever cross-listing of US ETFs in the UAE, hosting Kraneshares' China Internet ETF and Global Carbon Strategy Fund. This move facilitates easier access for regional investors to trade global ETFs in local hours and currency. Anthony Sassine, CEO of Oceane Invest, anticipates more global asset managers will bring products to the Gulf in the future.

ADX approves first ever cross-listing of US ETFs in the UAE

Gulf stock markets mostly rose on Wednesday, anticipating the Federal Reserve's interest rate decision. Saudi Arabia's index gained 0.3%, Dubai's rose 0.5%, while Abu Dhabi's eased 0.1%. Oil prices remain a key factor, with crude hovering near multi-month lows. The Fed's decision could impact GCC economies and corporate earnings, especially if further rate cuts are signaled.

Most Gulf markets gain ahead of Fed verdict

Gulf stock markets showed mixed performance as investors awaited Federal Reserve Chair Jerome Powell's remarks for policy clues. Markets anticipate an interest rate cut by the Fed, affecting Gulf economies due to currency pegs to the U.S. dollar. Saudi Arabia's index rose 0.4%, Dubai's 0.2%, Abu Dhabi's fell 0.1%, and Qatar's lost 0.1%. Oil prices remained steady amid Russia-Ukraine peace talks and U.S. interest rate decisions, impacting Gulf fiscal balances.

Major Gulf markets mixed ahead of Fed verdict

NVDA

ORCL

MSFT

GOOGL

Ray Dalio sees the Middle East as a fast-growing AI hub, attracting major companies like Nvidia, Oracle, Microsoft, and Alphabet. He compares the region's energy to Silicon Valley, with significant investments and talent influx. Dalio highlights the UAE, Saudi Arabia, and Qatar's strategic growth in AI, backed by financial resources and global partnerships. Despite optimism for the region, Dalio warns of global economic challenges due to rising debt, political tensions, and geopolitical conflicts.

- Ray Dalio, founder of Bridgewater Associates, highlights the Middle East as a rapidly growing AI hub, with major companies like Nvidia, Oracle, Microsoft, and Alphabet establishing a presence there.  
- He notes that the UAE, Saudi Arabia, and Qatar are attracting investment and talent, supported by significant commitments such as Saudi Arabia's $10 billion agreement with Google Cloud to create a global AI hub.  
- While optimistic about the region, Dalio expresses caution regarding the global economy, citing rising debt, political tensions in the U.S., and geopolitical conflicts as potential pressures in the coming years.

Tip Ranks

NVIDIA

Oracle

Microsoft

Alphabet

NVDA, MSFT, ORCL, GOOGL: Ray Dalio Sees the Gulf as the 'Next Big AI Boom'

Gulf stock markets were subdued due to weaker oil prices and anticipation of a U.S. interest rate cut. The Fed's inflation measure met expectations, while consumer sentiment improved. Private payrolls declined, but jobless claims hit a three-year low. Oil prices fell amid peace talks on Ukraine and supply concerns. Saudi Arabia's index rose slightly, while Dubai's index eased. Abu Dhabi and Qatar's indices saw minor gains.