Stock markets in the Gulf were subdued in early trade on Thursday as investors awaited U.S. Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium on Friday to gauge the interest rate trajectory.

Markets are focused on whether Powell will push back against market expectations for a rate cut next month following a weak jobs report for July.

Monetary policy shifts in the U.S. have a significant impact on Gulf markets, where most currencies are pegged to the dollar.

The Qatari benchmark index slipped 0.2%, dragged by declines in most shares. Qatar National Bank, the region's largest lender, eased 0.4% and Industries Qatar fell 0.7%.

Dubai's benchmark stock index was down 0.1%, pressured by losses in consumer staples, communication and real estate shares. Gulf Navigation dropped 1.4% and Deyaar Development declined 1%. Mashreqbank and toll operator Salik gained 0.6% and 1.2% respectively.

Saudi Arabia's benchmark stock index traded in a narrow range as gains in utilities and IT stocks countered losses in finance and energy shares.

Saudi Awwal Bank slipped 3.1%, while Sadr Logistics climbed 9% after it signed a 10-year logistics services contract for the SADR Park project with Starlinks Company at 249.3 million riyals.

The Abu Dhabi benchmark index was little changed as Abu Dhabi Islamic Bank lost 0.5%, while blue-chip developer Aldar Properties and Abu Dhabi National Energy Company gained 0.6% and 0.3% respectively.

State-owned utilities company, TAQA, said it has secured an 8.5 billion dirhams ($2.3 billion) term loan to enhance liquidity and advance its growth.

(Reporting by Md Manzer Hussain; editing by Philippa Fletcher)