Financial markets analyst Hamad Al-Olayan said that there is fear from investors and anticipation of what will happen in global economies during the coming period, pointing to waiting for US inflation data that will be revealed tomorrow.
Al-Olayan added in an interview with Al-Arabiya, that the inflation data will determine whether Markets will be pulled from the downside, to the upside.
He referred to the fluctuations in the markets over the past two weeks, and all of these fluctuations await positive data that will change the course of the market, adding that in the event of negative data appearing, it might be a real signal that global economies will enter the recession phase.
Olayan indicated that if the US economy is affected, there will be consequences for the rest of the world.
Olayan said that the factors that will determine the course of the performance of the Saudi market and its cohesion include the announcement of the results of the listed companies for the third quarter, and the movement of oil prices, which is currently witnessing stability.
He revealed that there is a fear that the Fed will continue to raise interest rates in the next two meetings, and thus will increase pressure on companies that rely on borrowing, and we may see stumbles in these companies.