Major stock markets in the Gulf were mixed in early trade on Thursday as signs of U.S. economic resilience dampened expectations for aggressive interest rate cuts in the near term.

Minutes of the Fed's December policy meeting, released on Wednesday, showed officials were concerned that U.S. President-elect Donald Trump's proposed tariffs and immigration policies may prolong the fight against inflation.

Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing unnamed sources familiar with the matter.

Markets are fully pricing in just one 25 basis point rate cut in 2025, and see around a 60% chance of a second.

Federal Reserve decisions have a significant impact on the Gulf region's monetary policy as most of the region's currencies are pegged to the dollar.

On Friday, the closely watched U.S. monthly payrolls report will provide clues on the Fed policy outlook.

Saudi Arabia's benchmark index .TASI dropped 0.1%, hit by a 0.9% fall in the country's biggest lender Saudi National Bank 1180.SE.

Separately, the kingdom's crude oil supply to China is set to decline in February from the month before, trade sources said on Thursday, after it hiked its prices and as OPEC+ extended production cuts in the first quarter.

In Qatar, the index .QSI fell 0.3%, with Qatar Islamic Bank QISB.QA losing 0.6%.

Dubai's main share index .DFMGI rose 0.6%, with blue-chip developer Emaar Properties EMAR.DU advancing 2%.

The Abu Dhabi index .FTFADGI was up 0.3%.

(Reporting by Ateeq Shariff in BengaluruEditing by Bernadette Baum)