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Wall Street closed mixed on Monday, driven by a rise in energy stocks. Investor mood was grim on oil prices jumping nearly $2 per barrel after Middle East escalations. An important Fed official said that the U.S. central bank should move relatively quickly to a more restrictive monetary policy. One of the three benchmark indexes ended in the green, while two ended in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) added 195.6 points, or 0.4%, to close at 51,850.55. Twenty components of the 30-stock index ended in positive territory, while 10 ended in negative.
The tech-heavy Nasdaq Composite lost 120.27 points, or 0.4%, to close at 27,245.9.
The S&P 500 slid 4.3 points, or 0.1%, to close at 7,807.24. Eight of the 11 broad sectors of the benchmark index closed in the green. The Energy Select Sector SPDR (XLE), the Consumer Staples Select Sector SPDR (XLP) and the Communication Services Select Sector SPDR (XLC) advanced 1.5%, 1.2% and 1.1%, respectively, while the Technology Select Sector SPDR (XLK) declined 0.9%.
The fear gauge CBOE Volatility Index (VIX) increased 2.5% to 15.21. A total of 12.7 billion shares were traded on Monday, lower than the last 20-session average of 17.6 billion. Decliners outnumbered advancers by a 1.09-to-1 ratio on the NYSE and by a 1.59-to-1 ratio on the Nasdaq.
Saudi Airport Attacks Lift Oil Prices, Hurt Investor Sentiment
Fresh attacks on Saudi Arabia heightened concerns over Middle East security, pushing oil prices higher and dampening investor confidence. Saudi authorities reported that one person was killed and 11 others injured after an unidentified projectile struck Terminal 4 at Riyadh’s international airport on Sunday, triggering a fire. The incident followed a Houthi-claimed attack a day earlier that killed 13 people and wounded more than 300.
The escalating violence raised concerns about potential disruptions to regional energy supplies, overshadowing expectations of increased availability. U.S. President Donald Trump welcomed additional Russian diesel exports and a Russia-Ukraine ceasefire covering energy targets, but these developments failed to ease upward pressure on crude prices.
Brent crude futures gained $1.93, or 1.8%, to settle at $106.65 per barrel, marking their highest close since Sept. 15. West Texas Intermediate crude advanced $1.89, or 2%, to $93.74. Rising energy costs and geopolitical uncertainty weighed on Wall Street investor mood, renewing concerns about inflation, corporate expenses and the potential implications for interest rates.
Fed’s Hammack Urges Swift Action to Curb Persistent Inflation
Cleveland Fed President Beth Hammack called for the Fed to tighten monetary policy relatively quickly, warning that inflation is spreading beyond energy and influencing companies’ pricing strategies. She estimated underlying inflation in the mid-to-high 2% range and expects a gradual return to the Fed’s 2% target. Rising costs for technology components, partly driven by AI infrastructure investment, are adding pressure across data centers, aviation, electricity and construction.
Hammack favored smaller, timely policy adjustments over potentially larger moves later. Traders have raised the probability of an October hike to nearly 22%, from 17.7% on Friday, according to CME’s FedWatch tool.
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Stock Market News for Oct 13, 2026
Wall Street closed mixed on Monday, driven by a rise in energy stocks. Investor mood was grim on oil prices jumping nearly $2 per barrel after Middle East escalations. An important Fed official said that the U.S. central bank should move relatively quickly to a more restrictive monetary policy. One of the three benchmark indexes ended in the green, while two ended in the red.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) added 195.6 points, or 0.4%, to close at 51,850.55. Twenty components of the 30-stock index ended in positive territory, while 10 ended in negative.
The tech-heavy Nasdaq Composite lost 120.27 points, or 0.4%, to close at 27,245.9.
The S&P 500 slid 4.3 points, or 0.1%, to close at 7,807.24. Eight of the 11 broad sectors of the benchmark index closed in the green. The Energy Select Sector SPDR (XLE), the Consumer Staples Select Sector SPDR (XLP) and the Communication Services Select Sector SPDR (XLC) advanced 1.5%, 1.2% and 1.1%, respectively, while the Technology Select Sector SPDR (XLK) declined 0.9%.
The fear gauge CBOE Volatility Index (VIX) increased 2.5% to 15.21. A total of 12.7 billion shares were traded on Monday, lower than the last 20-session average of 17.6 billion. Decliners outnumbered advancers by a 1.09-to-1 ratio on the NYSE and by a 1.59-to-1 ratio on the Nasdaq.
Saudi Airport Attacks Lift Oil Prices, Hurt Investor Sentiment
Fresh attacks on Saudi Arabia heightened concerns over Middle East security, pushing oil prices higher and dampening investor confidence. Saudi authorities reported that one person was killed and 11 others injured after an unidentified projectile struck Terminal 4 at Riyadh’s international airport on Sunday, triggering a fire. The incident followed a Houthi-claimed attack a day earlier that killed 13 people and wounded more than 300.
The escalating violence raised concerns about potential disruptions to regional energy supplies, overshadowing expectations of increased availability. U.S. President Donald Trump welcomed additional Russian diesel exports and a Russia-Ukraine ceasefire covering energy targets, but these developments failed to ease upward pressure on crude prices.
Brent crude futures gained $1.93, or 1.8%, to settle at $106.65 per barrel, marking their highest close since Sept. 15. West Texas Intermediate crude advanced $1.89, or 2%, to $93.74. Rising energy costs and geopolitical uncertainty weighed on Wall Street investor mood, renewing concerns about inflation, corporate expenses and the potential implications for interest rates.
Consequently, ConocoPhillips (COP - Free Report) and ExxonMobil Holdings Corporation (XOM - Free Report) gained 2.6% and 1.9%, respectively. While COP currently boasts a Zacks Rank #1 (Strong Buy), XOM carries a Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank stocks here.
Fed’s Hammack Urges Swift Action to Curb Persistent Inflation
Cleveland Fed President Beth Hammack called for the Fed to tighten monetary policy relatively quickly, warning that inflation is spreading beyond energy and influencing companies’ pricing strategies. She estimated underlying inflation in the mid-to-high 2% range and expects a gradual return to the Fed’s 2% target. Rising costs for technology components, partly driven by AI infrastructure investment, are adding pressure across data centers, aviation, electricity and construction.
Hammack favored smaller, timely policy adjustments over potentially larger moves later. Traders have raised the probability of an October hike to nearly 22%, from 17.7% on Friday, according to CME’s FedWatch tool.
No economic data was released on Monday.