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May 19th - According to the Wall Street Journal, White House officials revealed that President Trump will preside over the swearing-in ceremony for incoming Federal Reserve Chairman Kevin Warsh at the White House on Friday. This ceremony underscores the importance Trump places on this appointment. Trump nominated Jerome Powell to head the Federal Reserve during his first term in 2018, and Powells swearing-in ceremony was held at the Federal Reserve, which Trump did not attend. The last Federal Reserve chairman to be sworn in at the White House was Alan Greenspan, who took office in 1987. Subsequent ceremonies have all been held at the Federal Reserve. The last president to attend such a ceremony was George W. Bush, who attended Ben Bernankes swearing-in ceremony in 2006. Later that year, Warsh was sworn in as a Federal Reserve Governor at the Eisenhower Executive Office Building, presided over by Vice President Dick Cheney. This Fridays swearing-in ceremony will conclude this unusually long transition at the top of the Federal Reserve hierarchy.On May 19, Iranian Supreme Leader Mojtaba Khameneis social media account reposted his first statement since taking office on May 18, reiterating his intention to consider opening new fronts in areas where the enemy is not adept. The statement said that research on opening other fronts has been completed, and that "the enemy has very little experience and is extremely vulnerable in these areas." The statement indicated that if the "state of war" continues, Iran will open these new fronts.The Dow Jones Industrial Average rose 159.95 points, or 0.32%, to close at 49,686.12 on Monday, May 18; the S&P 500 fell 5.45 points, or 0.07%, to close at 7,403.05 on Monday, May 18; and the Nasdaq Composite fell 134.41 points, or 0.51%, to close at 26,090.73 on Monday, May 18.White House Press Secretary Kelly: (Regarding Iran) Trump has all the options at any time.Federal Reserves Goolsby: If interest rates are cut too much, it will further trigger inflation.

At The Close of Trading, Saudi Arabian Stocks Fell 1.30 Percent

Skylar Williams

Nov 28, 2022 16:25

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After the Saudi Arabian market closed on Sunday, the Agriculture & Food, Building & Construction, and Industrial Investment sectors led the decrease in stocks.


At the closing of trading in Saudi Arabia, the Tadawul All Share dropped 1.30 percent to a fresh 6-month low.


Tourism Enterprise Co. (TADAWUL:4170) had the strongest performance on the Tadawul All Share during the session, increasing 9.5% or 2.90 points to 32.05. Dr Sulaiman Al Habib Medical Group (TADAWUL:4013) gained 2.38 percent, or 5 points, to close at 215.00 and Arabian Drilling Co (TADAWUL:2381) gained 2.08 percent, or 2.40 points, to 117.60 in late trading.


Malath Cooperative Insurance Co (TADAWUL:8020) had the worst performance during the trading day, sliding 9.69%, or 1.18 points, to 11.00 at the closing. Al Yamamah Steel Industries Co (TADAWUL:1304) closed at 23, down 8.00%, or 2.00 points, while United Wire Factories Company (TADAWUL:1301) closed at 24, down 8.15%, or 2.15 points.


On the Saudi Arabia Stock Exchange, the ratio of decreasing to rising stocks was 201 to 43, with 11 finishing unchanged.


Malath Cooperative Insurance Co (TADAWUL:8020) shares fell 9.69%, or 1.18 points, to 11.00, a 52-week low. United Wire Factories Company (TADAWUL:1301) shares declined 8.16 percent, or $2.15, to settle at $24.20, representing a 52-week low. Al Yamamah Steel Industries Co (TADAWUL:1304) shares fell 8.00%, or $2.00, to $23.00, marking a 52-week low.


The January price of a barrel of crude oil declined by 1.78 percent, or $1.39, to $76.55 per unit. Brent oil for February delivery remained unchanged by 0.00% or $0.00 at $83.71 per barrel, whereas the December Gold Futures contract increased by 0.54% or $9.40 to $1,755.00 per troy ounce.


EUR/SAR stayed stable at 3.91, whilst USD/SAR was steady at 3.76.


US Dollar Index Futures were down 0.03% at 105.94.

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