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The Reserve Bank of New Zealand will announce its interest rate decision in ten minutes.On November 26, US President Donald Trump stated that he does not want to extend Obamacare subsidies, following media reports that he was preparing a healthcare policy framework to extend Affordable Care Act (ACAD) premium subsidies for another two years. Trump, traveling aboard Air Force One to Florida for the Thanksgiving holiday, addressed reporters on board, making it clear that he opposes this move and conceding to Republican lawmakers who disagree with the measure.A Reuters survey of stock market strategists on November 26th indicates that the S&P 500 is projected to rise approximately 12% from current levels by the end of 2026, driven by a healthy U.S. economy, strong performance from technology companies, and the Federal Reserves continued accommodative monetary policy. The median forecast from the November 14-25 survey of over 45 strategists, analysts, and portfolio managers projects the S&P 500 will close at 7490 points in 2026, an 11.7% increase from current levels. A higher close in 2025 would mark the fourth consecutive year of gains for the benchmark index. Of the 14 respondents who answered supplementary questions, 8 believed a pullback in the S&P 500 was more likely in the next three months. Analysts cited potential inflation and uncertainty surrounding interest rate cuts as risks to the overall optimistic forecast. The survey also predicts the Dow Jones Industrial Average will close at 50,566 points next year, a more than 7% increase from current levels; the index closed at 47,112.45 points on Tuesday.Kioxia Holdings shares fell 11% in Japan.According to a Reuters survey, the S&P 500 is expected to reach 7,490 points by the end of 2026, and the Dow Jones Industrial Average is expected to reach 50,566 points by the end of 2026.

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.