5,799Dubai Financial Market · Oct. 8 close · −1.66%

DailyDrop.

3.6725USD/AED · official pegged rate (not a live rate)
DFM General5,799.00▼1.66%10/8USD/AED3.67-0.00%10/8S&P 5007,765.36▼0.47%10/8WTI$91.50▲3.60%10/8Gold$4,157.00▲0.20%10/8
Saudi Arabia · Aviation · SecurityPress ✓ 6 outlets · the Houthi claim is unconfirmed by Saudi Arabia

Houthis say they fired a missile at King Khalid airport in Riyadh, and UAE airlines delay and cancel flights to the Saudi capital

The Saudi-led coalition said it destroyed two ballistic missiles, and Reuters spotted smoke from a parked plane. Etihad announced a delay to its flight and flydubai cancelled flights 855 and 856.

The Houthis said on Thursday, October 8, that they fired a ballistic missile at King Khalid International Airport in Riyadh, the second attack they have announced on the capital since September 19, according to The Guardian, the Associated Press, Reuters and the BBC. The Saudi-led coalition said it destroyed two ballistic missiles aimed at the city, that fragments fell after the interception and that debris landed on a medical complex. Reuters spotted smoke from a parked plane believed to be empty. Saudi Arabia did not confirm the claim of a direct hit, but it had confirmed that three people were killed and more than 30 injured in attacks on two airports during the week.

Etihad announced that its flight EY555 from Abu Dhabi to Riyadh was delayed for a long time because of the airport closure, and the return flight EY556 was delayed, according to Khaleej Times. flydubai cancelled flights FZ855 and FZ856 the same day. According to Cirium data, 169 of 378 scheduled flights at the airport were cancelled or recorded as “barred from departure.” Lufthansa and Indian airlines suspended their flights to Riyadh, according to Reuters. The Houthis warned workers at Saudi oil facilities and renewed their warnings to airlines.

Open the story
By the numbers
169of 378 scheduled flights cancelled or barred, according to Cirium
3killed in attacks on two airports this week, according to Saudi Arabia
2ballistic missiles the coalition said it destroyed
Oil · MarketsPress ✓ 5 outlets · settlement figures

Brent jumps 4% to settle at $104.28 on Houthi attacks and Hormuz, as Hurricane Isaias threatens US refining

Brent settled on Thursday, October 8, at $104.28, up 4.07%, and West Texas Intermediate at about $91.5, up 3.6%, according to data from Financial Juice, Bloomberg, The Guardian and the BBC, and Brent topped $105 during the session. Bloomberg tied the rise to the Houthi attacks on Saudi airports, to tanker attacks near Hormuz, and to Hurricane Isaias, which puts about 500,000 barrels a day of US refining capacity at risk.

Trump said the United States would not attack Iran before the November 3 election, and on the same day Washington sanctioned more tankers of Iran’s shadow fleet, according to Reuters. The Financial Times reported that tanker traffic in Hormuz is slowing. These are settlement figures, not final prices for tomorrow, and the figures differ slightly between sources.

Open the story

Markets · Dubai and the GulfPress ✓ 2 sources · figures from closing reports

Dubai Financial Market falls 1.66% to 5,799 points as geopolitical tensions rise

The Dubai Financial Market General Index closed on Thursday, October 8, down 1.66% at about 5,799 points, according to Al Khaleej and to Reuters via Zawya, which reported a fall of about 1.7% as the Hormuz attacks reached a wartime peak. Wednesday’s close was 5,897.57 points.

Most Gulf markets fell the same day, according to Reuters. Al Khaleej tied the pressure to geopolitical tensions and to the wait for third-quarter results. This is the biggest daily loss in a week, and it comes after three days of narrow oscillation.

Open the story
United States · IranPress ✓ 5 outlets · Pentagon plan from a single source

Trump: no attack on Iran before the November 3 election, and the naval blockade stays

President Trump said on Thursday, October 8, that the United States would not attack Iran before the midterm elections on November 3, that talks with Iran are “productive,” and that the naval blockade will remain, according to Reuters, the Financial Times, CNBC and what Yonhap relayed. The president posted this on Truth Social, according to reports.

In contrast, The New York Times reported that the Pentagon has prepared a three-day strike plan and that three aircraft carriers will soon be stationed in the Middle East, which no second source confirmed. Turkey is considering defensive assistance for Saudi Arabia with no offensive role. This remains press reporting that official bodies have not confirmed.

Open the story

Markets · United StatesPress ✓ 4 sources · closing figures

Wall Street slips with oil and yields, and the Fed says more hikes are needed

The S&P 500 closed on Thursday, October 8, down 0.47% at 7,765.36 points, the Nasdaq lost 1.25% and the Dow Jones gained 0.10%, while gold rose 0.20% to $4,157.0 and West Texas Intermediate rose 3.6% to 91.50. The ten-year bond yield fell to about 5.231%.

The president of the Federal Reserve Bank of St. Louis, Alberto Musalem, said interest rates should rise over the next six to nine months, and board member Christopher Waller said the need for more hikes remains, with flexibility on the pace, according to Bloomberg and Reuters.

Open the story
In brief
  • S&P 500 closes at 7,765.36, down 0.47%, the Nasdaq down 1.25% and the Dow Jones up 0.10%Bloomberg
  • Ten-year Treasury yield falls to about 5.231%CNBC
  • flydubai cancels flights 855 and 856 to Riyadh on ThursdayKhaleej Times
  • Etihad postpones flight EY555 and says the situation is “changing”Khaleej Times
  • Turkey considers defensive support for Saudi Arabia with no offensive roleSpiegel
  • UAE stocks fall for a second week awaiting catalysts (Friday report)Al Khaleej
  • Reuters: most Gulf markets end Thursday lowerZawya
Seven minutes every morning, one front page

Unverified — what we could not confirm

“A Houthi missile hit Riyadh airport and burned planes.” A Houthi claim. The coalition said it destroyed two missiles, and Reuters spotted smoke from a parked plane believed to be empty. Saudi Arabia did not confirm a direct hit.
“Trump has stopped the naval blockade of Iran.” False. He said the blockade will remain, and that he would not attack before the November 3 election.
“The Pentagon will launch a strike on Iran within days.” A single source: The New York Times, on a three-day plan. No second source confirmed it, and Trump said the attack would not happen before the election.

Influencer watch

  • Donald Trump, US President Truth Social · 10/8Trump wrote on Truth Social that the US would not attack Iran before the Nov. 3 midterms, that talks with Tehran were productive, and that the naval blockade would stay.

Statements as posted, not fact-checked.

Glossary · dotted words — economic, security and political terms explained in the context of the story. The list grows every day.
INSIDEHouthis say they fired a missile at King Khalid airport in Riyadh, and UAE airlines delay and cancel flights to the Saudi capitalSaudi Arabia · Aviation · SecurityBrent jumps 4% to settle at $104.28 on Houthi attacks and Hormuz, as Hurricane Isaias threatens US refiningOil · MarketsDubai Financial Market falls 1.66% to 5,799 points as geopolitical tensions riseMarkets · Dubai and the GulfTrump: no attack on Iran before the November 3 election, and the naval blockade staysUnited States · IranWall Street slips with oil and yields, and the Fed says more hikes are neededMarkets · United States