<div id="readability-page-1"><div> Major stock markets in the Gulf were mixed in early trade on Wednesday as investors awaited remarks from Federal Reserve Chair Jerome Powell for policy clues. As of Wednesday, markets are almost fully pricing in an interest rate cut by the U.S. central bank's policy-setting Federal Open Market Committee following a two-day meeting that began on Tuesday, despite the committee being more divided than it has been in years.The Fed's stance holds implications for Gulf economies, where most currencies are pegged to the U.S. dollar, making it an anchor for regional monetary stability.Saudi Arabia's benchmark stock index gained 0.4%, with Al Rajhi Bank up 0.8%.Dubai's main share index added 0.2%. In Abu Dhabi, the index eased 0.1%. The Qatari benchmark lost 0.1%.Oil prices - a catalyst for the Gulf's financial markets - held steady after falling about 1% in the previous session, as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates.Crude prices are hovering near multi-month lows, putting pressure on the fiscal balances of oil-dependent Gulf nations through lower revenues.</div></div>

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