Houthi strike kills 12 at Riyadh airport — October 12, 2026

Top U.S. Stories

• Houthi missiles hit Riyadh airport; Trump weighs joining the fight. A missile strike on King Khalid International Airport on Saturday killed at least 12 people and wounded more than 300, with Americans among the dead. A passenger terminal was hit again on Sunday, and more than 600 flights have been canceled. President Trump is reportedly considering joining Saudi strikes on the Houthis. Why it matters: Direct U.S. involvement would widen a conflict that is already keeping Brent crude above $100 a barrel.
• Trump announces a Russia-Ukraine “energy ceasefire.” Trump said on Sunday that both sides had agreed to an immediate halt to attacks on energy facilities. Zelenskyy said the news was new to him, then accused Russia of continuing to hit energy sites after the announcement. Why it matters: A truce on refineries could ease global fuel supply worries — but a similar announcement a month ago did not hold.
• Pressure on Zelenskyy. A day earlier, Trump suggested Ukraine needs “a new leader who can make a deal,” as talks continued in Miami. Zelenskyy also criticized a U.S. deal for Russian diesel, saying it would prolong the war.
• A big week for Wall Street. JPMorgan, Goldman Sachs, Citigroup and Wells Fargo report on Tuesday, with Morgan Stanley and Bank of America on Wednesday, the same day as the September CPI report. Why it matters: CPI is one of the last major data points before the Fed’s late-October meeting, after the Fed raised rates last month for the first time since 2023.
• Columbus Day: The cash Treasury market is closed Monday, while stocks trade normally.

Compass Insight

Both of the weekend’s biggest stories run through energy. In the Gulf, repeated Houthi strikes on the Saudi capital raise the risk that the conflict spreads to oil infrastructure and shipping — and Brent settled at $104.72 on Friday. In Europe, an energy truce between Moscow and Kyiv would push the other way, but Trump’s announcement came without details and was quickly tested. Meanwhile, stocks sit near record highs even with the 10-year Treasury yield at 5.24%. That combination leaves little room for an inflation surprise. In the short term, watch Monday’s oil open and Wednesday’s CPI. Over the longer run, the key question is whether high energy prices keep pushing the Fed toward more hikes.

Markets

As of Friday’s close (Oct. 9), the S&P 500 rose 0.6% to 7,811.54 and the Dow gained 423.31 points to 51,654.95, with the Nasdaq up 172.83 points, or 0.6%, at 27,366.17. The 10-year Treasury yield rose to 5.24%. Brent settled at $104.72 and WTI at $91.85; those closes preceded the weekend airport attack. In Tokyo, the Nikkei slipped 11.19 yen to 69,030.92; Japanese markets are closed Monday for Sports Day. The dollar stood at 158.25 yen (ECB reference rate, Oct. 9).

Stocks in Focus

• Energy: Producers remain tied to Middle East headlines as the Houthi-Saudi conflict escalates.
• Big banks: Analysts expect strong trading and investment-banking results, but rising yields are a risk to bond holdings and deal activity.
• Airlines: The Riyadh airport closure and higher fuel costs weigh on carriers with Gulf exposure.

Auto-generated and AI-written. Not investment advice.