Oddbean

Gulf markets extend gains on US rate-cut hopes ========== Most Gulf stock markets ended higher on August 19, 2024, driven by positive US economic data suggesting potential interest rate cuts by the Federal Reserve next month; Saudi Arabia's benchmark index rose by 0.6%, led by Al Taiseer Group's 6.2% gain; Qatar's index increased by 0.1% due to a 0.9% rise in Industries Qatar; traders reduced expectations for a 50-basis-point cut to 25% from 55% a week ago; Egypt's blue-chip index fell by 0.6% due to a 1.5% decline in Talaat Mostafa Group. #GulfMarkets #UsEconomy #InterestRates #StockMarket #SaudiArabia #Qatar #Egypt #FederalReserve #EconomicData #Trading https://www.brecorder.com/news/40318114/gulf-markets-extend-gains-on-us-rate-cut-hopes