Most major stock markets in the Gulf edged higher in early ‍trade on Wednesday, ‍supported by rising oil prices and stronger-than-expected U.S. ​economic growth figures.

Oil prices - a catalyst for the Gulf's financial ⁠markets - rose for a sixth day supported by robust U.S. economic ⁠growth and the ‌risk of supply disruptions from Venezuela and Russia.

Dubai's main share index added 0.1%, helped by ⁠a 0.7% rise in blue-chip developer Emaar Properties.

U.S. economic data showed the world's largest economy recorded its strongest growth in two years during the third quarter, driven ⁠by solid consumer spending ​and a significant recovery in exports.

The strong report reinforced expectations that the Federal Reserve ‍will refrain from cutting interest rates at its late-January meeting, with ​current market-implied probabilities sitting at 87% according to LSEG data.

U.S. interest rate futures are now pricing in the Fed's first rate cut for June, followed by two 25 basis point reductions anticipated throughout 2026.

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

In Abu Dhabi, the index ⁠edged 0.1% higher.

The Qatari benchmark ‌rose 0.3%, with Qatar National Bank, the Gulf's biggest lender by assets, up 0.5%.

Saudi Arabia's benchmark index, however, ‌traded 0.4% lower, ⁠on course to snap four days of gains.

(Reporting by ⁠Ateeq Shariff in Bengaluru; Editing by Alexander Smith)