Pre-Trading Thoughts

US stocks suffered the worst day since June 2020 yesterday after August inflation data with concerns that Fed could go even larger and hike by a full 100 bps. Five major GCC funds are willing to participate in a financing package exceeding USD10 billion to contribute to the financing of the climate change "Nofi" program. Prime Minister Moustafa Madbouly followed up on more than USD 1 bn worth of MoUs for industrial investment by nine foreign and local manufacturers. The Ministry of Petr...