Saudi bourse gains on US inflation data; Egypt falls
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 28 2024
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Should l Buy ?
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.
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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.
