Mideast Stocks: Major Gulf Markets Ease Ahead of US Economic Data

Major stock markets in the Gulf fell in early trade on Thursday ahead of U.S. economic data that could clarify the Federal Reserve's interest rate outlook.

Investors are waiting for the release of the Personal Consumption Expenditures (PCE) Price Index, the preferred inflation measure of the U.S. Fed, scheduled for Friday.

The Fed's stance holds implications for Gulf economies, where most currencies are pegged to the U.S. dollar.

Saudi Arabia's benchmark index eased 0.1%, hit by a 0.6% fall in petrochemical maker Saudi Basic Industries Corp .

The Qatari index fell 0.2%, with Doha Bank losing 1.3%.

Oil prices - a catalyst for the Gulf's financial markets - fell after rising in the previous session as investors weighed expectations for lower U.S. fuel demand with the end of the summer demand season nearing and awaited India's response to punitive U.S. tariffs.

Dubai's main share index lost 0.3%, with blue-chip developer Emaar Properties falling 0.7%.

In Abu Dhabi, the index was down 0.2%.

New York Federal Reserve Bank President John Williams said on Wednesday rates will likely fall at some point, but policymakers will need to see upcoming economic data before deciding whether it is appropriate to make a cut at the Fed's September 16-17 meeting.