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News
15US 10-Year Yield Jumps to 5.12% as Reported, Repricing Global Assets
The yield on US 10-year Treasury bonds recorded 5.12% as reported, reaching its highest level since 2007, putting pressure on stock markets, strengthening the US dollar, and reshaping the pricing landscape for risky assets around the world.
US Composite PMI Jumps to Reported 58.4 in Strongest Reading in Five Years
The US Composite Purchasing Managers' Index registered a reported reading of 58.4, its highest level in five years, signaling that the US economy is accelerating rather than slowing down and boosting expectations for a Federal Reserve rate hike in October.
Saudi TASI Index Drops 6.53% as Reported, in Striking Contrast to Brent Exceeding $100
The Saudi TASI index recorded a drop of 6.53% as reported in a striking paradox, as its decline coincides with Brent crude rising above $100, indicating that local or global financial pressures outweigh the support of high oil prices.
Egypt's EGX30 Achieves Reported 52% Annual Gains to Settle at 54,931 Points
The Egyptian EGX30 index reportedly records annual gains of up to 52%, settling at 54,931 points, outperforming most regional markets despite high inflation and currency pressures facing Egypt.
US Market Breadth Deteriorates as Only 28% of Stocks Advance Amid Big Tech Dominance Over Indices
Market breadth data reveals a sharp decline in participation, with only 28% of stocks advancing, while major indices rely on the performance of the tech and semiconductor sectors to mask the vulnerability of the broader market base.
Gulf Market Indices Diverge Between Dubai Gains and Tadawul Decline
The performance of Gulf financial market indices diverged, with the Dubai and Abu Dhabi stock exchanges recording modest gains, while the Saudi Tadawul index declined under pressure from falling oil prices.
Egypt's EGX30 Index Hits a New Record High Amid Rising Foreign Inflows
The Egyptian Stock Exchange's main index, EGX30, reached a new record high during the trading session, driven by increasing foreign investment inflows and improved confidence in the Egyptian economy following recent reforms.
FTSE 100 Rises 0.23% as Mining Shines and Bank of England Splits 6-3 on Rates
The FTSE 100 rose supported by mining and defense amid 2.9% inflation and a 6-3 Bank of England split on rate hikes, with a 30% chance of a September hike.
Wall Street Declines Under Pressure from Iranian Sanctions as Alibaba Plunges 8.57%
Wall Street declined during the August 24 session as Alibaba shares plunged 8.57%, while the VIX rose 5.23% ahead of Nvidia's earnings, the Jackson Hole summit, and PCE data.
FTSE 100 Posts Best Weekly Performance Boosted by Gold and Copper Rally
The FTSE 100 index ended its week with its best performance this year, driven by gold rising to $4,627 and gains in copper, while the FTSE 250 logged its first weekly drop in six weeks.
Ross Stores Jumps 8% Following Strong Quarterly Results Highlighting US Consumer Resilience
Ross Stores reported second-quarter results that beat expectations, driving its stock up 8.1% in a sign of the US consumer's resilience against price pressures.
Coinbase Jumps 8.5% as Bitcoin Soars to $76,927
Coinbase stock rose by 8.5% following a single-day 7% jump in Bitcoin to $76,927, boosting trading volume expectations on the platform and injecting strong momentum into the stock.
Robinhood Jumps 11% Driven by Bitcoin and Digital Assets Rally
Robinhood shares surged by more than 11% in a single session, benefiting from a strong rally in Bitcoin and digital assets that lifted digital trading platform stocks along with them.
US Markets Break Three-Week Winning Streak with Eyes on Monday's Open
The S&P 500 closed up 0.43% on Friday but recorded a 1.4% weekly loss, breaking a three-week winning streak, while construction materials and healthcare led and tech and energy declined.
Nvidia to Unveil Results Wednesday Alongside Salesforce and CrowdStrike on a Pivotal Earnings Night
Nvidia releases its Q2 FY2027 results after Wednesday's close, with data center revenue and Blackwell guidance set to dictate Nasdaq's direction heading into Jackson Hole.