Dubai's stock market reached a milestone on December 25, 2024, with the Dubai Stock Index hitting 5,084, its highest level in over a decade, marking a 0.1% increase. Key contributors to this rise included Emirates NBD, which gained 1.2%, Spinneys 1961 with a 1.3% increase, and Shuaa Capital, which rose 1.4% following the restructuring of $56.64 million in debt. In contrast, most Gulf equities experienced declines as investors anticipated fewer rate cuts from the U.S. Federal Reserve in the upcoming year. The positive performance of Dubai's index was noted again on December 26, although most other Gulf markets remained subdued.