Saudi bourse gains on US inflation data; Egypt falls
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 28 2024
0mins
Source: reuters
Saudi Stock Market Performance: Saudi Arabia's stock market rose by 1.2% after positive U.S. economic data indicated improving inflation, while the Egyptian bourse declined by 0.2% due to a rise in domestic fuel prices.
Impact of U.S. Economic Data: The Federal Reserve's potential interest rate cuts in September are influenced by recent moderate price increases in the U.S., affecting monetary policy across the Gulf Cooperation Council (GCC) countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
