Wall Street Closes Mixed as Higher Oil and Chip Losses Split the Tape; Qatar Rebounds 1.15% While TASI Falls a Fourth Session Ahead of Bank Earnings and CPI - Modern Money Experts

Wall Street Closes Mixed as Higher Oil and Chip Losses Split the Tape; Qatar Rebounds 1.15% While TASI Falls a Fourth Session Ahead of Bank Earnings and CPI

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Wall Street Closes Mixed as Higher Oil and Chip Losses Split the Tape; Qatar Rebounds 1.15% While TASI Falls a Fourth Session Ahead of Bank Earnings and CPI

Takeaway: Into Tuesday 13 October 2026 Asia/Dubai morning, Monday’s US session finished mixed after a winning week: the Dow closed at 51,850.55 (+0.38%) for a third straight gain, the S&P 500 slipped 0.06% to 7,807.24, the Nasdaq fell 0.44% to 27,245.90, and the Russell 2000 lost 0.45% to 2,794.48. Higher oil — Brent US$106.65 (+1.84%), WTI US$93.74 (+2.06%) — and a drop in Micron weighed on the Nasdaq, while Salesforce helped the Dow. The Treasury cash market was shut for Columbus Day; Friday’s last official yields were 10-year 5.24% and 2-year 4.80%. In Monday’s Gulf sessions, Qatar rebounded 1.15% to snap four declines, TASI fell 0.74% for a fourth straight drop, and Kuwait’s All Share rose 0.12%. Big US bank earnings begin today; September CPI is Wednesday.

What happened

1) US equities — Monday mixed close into earnings and CPI week

  • Monday 12 October 2026 close (Associated Press; CNBC):
  • Dow 51,850.55 (+195.60 / +0.38%) — third straight positive day for the 30-stock index
  • S&P 500 7,807.24 (−4.30 / −0.06%)
  • Nasdaq 27,245.90 (−120.27 / −0.44%)
  • Russell 2000 2,794.48 (−12.50 / −0.45%) (AP reported about −0.4%)
  • Year-to-date (AP): S&P 500 about +14%, Dow +7.9%, Nasdaq +17.2%, Russell +12.6%.
  • Movers (CNBC): Micron fell about 3.9% as investors weighed progress reported by China’s CXMT on a competing memory design. Salesforce rose about 2% after a Bank of America double upgrade to buy. Energy stocks led midday gains; the Energy Select Sector SPDR (XLE) touched an intraday all-time high as crude climbed. Midday, CNBC noted 9 of 11 S&P 500 sectors in positive territory, with energy and communication services leading and information technology and consumer discretionary lower.
  • Earnings and data setup: Citigroup, JPMorgan Chase and Wells Fargo report Tuesday (AP); Bank of America, Goldman Sachs and Morgan Stanley are also due this week (CNBC). FactSet’s John Butters cited S&P 500 year-on-year earnings growth of about 29.6% for the quarter. September CPI is Wednesday and PPI Thursday (BLS schedule).
  • Policy colour (CNBC): Cleveland Fed President Beth Hammack said a restrictive stance remains appropriate to return inflation to 2%, preferring smaller, relatively quick adjustments when feasible.

2) Bonds — cash market closed Monday; yields last printed Friday

  • The US Treasury cash market was closed Monday 12 October for Columbus Day (Kalkine / Asia Business Daily via Bloomberg). Stocks still traded.
  • Last official daily Treasury rates (US Treasury, Friday 9 October): 2-year 4.80%, 10-year 5.24%, 30-year 5.60%.
  • This morning (Bloomberg via SWI swissinfo, about 05:57 UTC / 09:57 Asia/Dubai): with cash trading resumed, the 10-year yield was quoted about 5.19% (−5 basis points) as equities sold off in Asia and oil eased.

3) Oil — Monday settle sharply higher on Gulf risk and ceasefire doubts

  • Monday settlement (CNBC; Xinhua via The Star; Newsquawk): Brent US$106.65 (+US$1.93 / +1.84%); WTI US$93.74 (+US$1.89 / +2.06%). Prices had dipped overnight after President Trump’s “energy ceasefire” Ukraine/Russia headlines, then recovered as Ukrainian President Zelenskyy said Moscow had already violated it and as weekend attacks on Riyadh’s international airport kept Gulf supply risk in focus.
  • This morning (Bloomberg via SWI): Brent was about US$105.45 (−1.1%) and WTI about US$92.67 (−1.1%) as Asia traded — still elevated, but off Monday’s settle.

4) Asia this morning — chip sell-off deepens after Monday’s Micron hit

  • Monday Asia (for context, CNBC / The Edge): Japan was shut for Sports Day; South Korea’s Kospi closed −3.65% at 6,384.24; Australia’s S&P/ASX 200 +0.76% at 8,783.20; Hang Seng +0.25% at 24,271.20.
  • Tuesday morning (Bloomberg via SWI swissinfo): MSCI Asia-Pacific equities were down about 1.7%. South Korea’s Kospi tumbled about 6.2% in the session wrap cited, with SK Hynix and Samsung Electronics both down about 8%. S&P 500 futures were about −0.2%; Nikkei 225 futures (OSE) about −2.6%. Hang Seng was about −0.4% and Shanghai Composite about −0.3% at the time of that wrap. These are morning/session readings, not final Tuesday closes where still open.

5) Gulf equities — Monday 12 October 2026

  • TASI 10,283.96 (−76.78 / −0.74%) on about 196 million shares worth more than SR3.49 billion, with 57 stocks up and 205 down — a fourth straight decline (Arab News; The Edge). Nomu rose 1.15% to 21,949.88. The MSCI Tadawul 30 fell 0.82% to 1,383.03. Top gainer Watani Iron Steel +9.77%; Saudi Fisheries −4.76% (Arab News).
  • QE Index (Qatar) 8,976.64 (+101.91 / +1.15%) on 94.86 million shares worth about QR253.51 million across 20,526 trades; 30 up / 18 down / 5 unchanged; market capitalisation about QR545.52 billion versus QR539.80 billion — snapping four consecutive declines (QNA; The Edge). QNB +2.18%, Commercial Bank of Qatar +1.98%, Qatar International Islamic Bank +1.70% (The Edge, exchange board).
  • Kuwait All Share 8,649.53 (+10.23 / +0.12%) on 250.9 million shares worth KWD70.6 million across 19,575 deals — a second straight gain. Premier Market 9,060.52 (+0.26%); Main Market 8,827.60 (−0.57%); Main 50 10,041.56 (−0.56%) (QNA via Fana).

Why it matters for Gulf + US-focused Arab traders

  • Oil and chips pulled indexes apart: the Dow’s third up day masked Nasdaq pressure from memory stocks, while Brent’s settle above US$106 kept energy in the lead — a split tape into bank results.
  • Gulf divergence after the airport attacks: Qatar bounced first after last week’s deep slide; Saudi’s breadth stayed weak (57 up / 205 down) on a fourth decline — local risk and oil beta are not moving in lockstep.
  • Bonds were dark on Monday: with the cash Treasury market closed, the next clean yield print comes as cash trading resumes into CPI week — Tuesday morning’s softer 10-year quote is a snapshot, not Friday’s official curve close.
  • Bank earnings then CPI: FactSet’s strong growth estimate sets a high bar; Wednesday’s September CPI will be read against already-elevated inflation expectations from last week’s UMich survey.

What’s ahead

  • Today (Tuesday 13 October): major US bank earnings begin (Citigroup, JPMorgan, Wells Fargo among those due; others follow this week).
  • Wednesday 14 October: US September CPI at 8:30 a.m. ET (4:30 p.m. UAE).
  • Thursday 15 October: September PPI (BLS).
  • 27–28 October: next Fed policy decision; UMich final October sentiment on 23 October.

Short educational angle — core vs supercore: how markets parse CPI beyond the headline

Wednesday’s September CPI will arrive as three overlapping stories, not one number. The headline index includes food and energy, so a jump in Brent can lift it even when underlying demand is steady. Core CPI strips out food and energy to show the stickier path the Fed watches more closely. Many desks go one step further to supercore — often defined as core services excluding housing (shelter). Shelter moves slowly because of how rents and owners’ equivalent rent are surveyed; supercore tries to isolate services inflation that is more sensitive to wages and demand. When oil is volatile, headline and core can diverge for months; when shelter is still catching up, core can stay elevated even if supercore cools. Reading the report as a checklist — headline, core, shelter, then supercore services — helps separate an energy shock from a broader inflation impulse. This is educational framing only, not a forecast of Wednesday’s print or a recommendation on any trade.

Sources

  1. Associated Press via KRMG — How major US stock indexes fared Monday 10/12/2026. https://krmg.com/2026/10/12/how-major-us-stock-indexes-fared-monday-10-12-2026/
  2. CNBC — Stock market news for Oct. 12, 2026 (S&P near flat; oil; Micron; Salesforce; Hammack). https://www.cnbc.com/2026/10/11/stock-market-today-live-updates.html
  3. US Treasury — Daily Treasury Par Yield Curve Rates (9 Oct 2026). https://home.treasury.gov/resource-center/data-chart-center/interest-rates/
  4. Xinhua via The Star — WTI crude futures settle higher (12 Oct 2026). https://www.thestar.com.my/news/world/2026/10/13/wti-crude-futures-settle-higher
  5. Bloomberg via SWI swissinfo — Stock Losses Deepen on AI Trade, Treasuries Rally (13 Oct 2026). https://www.swissinfo.ch/eng/asian-stocks-decline%2C-tracking-us-chip-losses%3A-markets-wrap/92205594
  6. Arab News — Closing Bell: Saudi Arabia’s TASI falls 0.74% to close at 10,284 (12 Oct 2026). https://www.arabnews.com/finance/closing-bell-saudi-arabias-tasi-falls-074-to-close-at-10284-3005941
  7. QNA — QSE Index Closes Higher (12 Oct 2026). https://qna.org.qa/en/news/news-details?id=qse-index-closes-higher&date=12%2F10%2F2026
  8. QNA via Fana — Kuwait Stock Exchange Closes Higher (12 Oct 2026). https://www.fananews.com/language/en/kuwait-stock-exchange-closes-higher-2/
  9. The Edge — Middle East Market Wrap 12 October 2026. https://edgeconsultancykw.com/middle-east-market-wrap-12-october-2026/
  10. BLS — Schedule of selected releases for October 2026. https://www.bls.gov/schedule/2026/10_sched.htm

Disclaimer: This article is for educational and informational purposes only and does not constitute investment advice, a trading recommendation, or financial advice. Trading and investing involve a substantial risk of loss. Past performance does not guarantee future results. Do your own research and consult a licensed adviser where appropriate. Modern Money Experts (MMEC) is an educational brand.

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