Happening Now — September 12, 2026: Mideast Tensions, AI Warning, Election Rhetoric

Overview

Happening now, Saturday, September 12th. Here's a look at the latest market data from Friday's close and weekend trading. The S&P 500 closed at 7,656.98, while the NASDAQ-100 finished at 29,368.44. The Dow Jones Industrial Average ended its session at 52,573.29. In the bond market, the US 10-Yr Treasury yield holds at

In this show

• Happening now, Saturday, September 12th. Here's a look at the latest market data from Friday's close and weekend trading. The S&P 500 closed at 7,656.98, while the NASDAQ-100 finished at 29,368.44. The Dow Jones Industrial Average ended its session at 52,573.29. In the bond market, the US 10-Yr Treasury yield holds at 4.969%. Volatility, as measured by the VIX, settled near 15.84. In commodities, WTI Crude is trading at $99.99 a barrel, with Gold at $4,347.70 an ounce. And in crypto, Bitcoin is trading around $77,287. I'm joined by our World and Markets correspondents for analysis.
• Across the wires this hour, several major stories are developing. In the Middle East, Iran-backed Houthi rebels have seized a strategic island and port city, escalating threats to global shipping in the Red Sea. In domestic politics, former President Donald Trump is drawing sharp criticism after urging his supporters to 'cheat like hell' in the upcoming midterm elections. And in the tech world, a former AI researcher is issuing a stark public warning, claiming that advanced artificial intelligence could soon pose an existential risk to humanity. We'll break down these stories and more.
• Tensions are flaring in the Red Sea. Iran-backed Houthi rebels have captured the strategic island of Perim in the Bab el-Mandeb Strait, a vital chokepoint for global shipping. This follows their recent takeover of the nearby port city of Mocha. By controlling both locations, the Houthis now exert significant influence over one of the world's most critical maritime trade routes. The move raises immediate security concerns for oil and cargo shipments, further destabilizing the region and potentially opening a new front in the ongoing conflict with Saudi Arabia.
• A new report from JPMorgan is sounding the alarm on food prices, warning of a potential 'brutal' grocery shock. The analysis, titled "Food Security Is National Security," points to a compounding storm of five key risk factors: War, Weather, Warehousing, Water, and Waste. While some headlines have amplified a misleading 12.3% figure, the official USDA forecast for 2027 food inflation is a more modest 2.9%. However, the JPMorgan report underscores the profound vulnerabilities within the global food supply chain and the potential for significant price volatility ahead for consumers.
• A stark warning is coming from a former researcher at the AI company Anthropic. Jacob Coxon has gone public with fears that artificial intelligence is advancing so rapidly it could become uncontrollable and pose an existential risk. In a recent interview, he warned of a potential 'intelligence explosion' where AI's self-improvement capabilities could eclipse human oversight. Coxon fears this could lead to catastrophic events, like the hacking of critical infrastructure or AI-developed bioweapons. He is now calling for urgent international regulation to prevent a global AI arms race.
• An escalating trade war between the U.S. and Canada is now directly impacting key midterm battleground states. President Trump's tariffs on Canadian goods are creating significant economic uncertainty for Republican candidates. States like Michigan, Ohio, Pennsylvania, Iowa, and Maine, which have industries heavily reliant on cross-border trade, are feeling the pressure. The tariffs are hitting a wide range of sectors, from auto suppliers in the Rust Belt to lumber companies in the Northeast, forcing local candidates to navigate the fallout of the administration's protectionist policies.
• Twenty-five years after the September 11th attacks, new intelligence suggests al-Qaeda is regrouping in Afghanistan. The terror organization is reportedly taking advantage of the Taliban's return to power to re-establish its presence. According to reports, al-Qaeda and its affiliates have set up at least eight training sites across the country within the last three years. This resurgence is raising fresh concerns among international security officials about the potential for a new wave of international terrorism originating from the region, once again turning Afghanistan into a safe haven for extremists.
• At a recent Republican midterm convention, former President Donald Trump made headlines by encouraging his supporters to 'cheat like hell' in the November elections. The statement adds to his long history of making unfounded claims about widespread voter fraud, particularly concerning the 2020 election. The remarks were delivered as part of a broader appeal to his base, urging them to ensure a massive turnout for Republican candidates. The comments have ignited a new wave of controversy and debate over election integrity as the critical midterm cycle enters its final stretch.
• Violence has flared again in the West Bank. A 27-year-old Palestinian dentistry student, Omar al-Toubasi, was shot and killed by Israeli settlers during a raid on his home in the village of Hajja. Reports indicate that three other people were wounded in the same attack. This incident marks the latest in a series of violent and often deadly encounters between settlers and Palestinians in the occupied territory. The killing is expected to further escalate tensions in a region already on high alert amid ongoing friction and a fragile security situation.
• In Washington, a mystery surrounding damage to the Lincoln Memorial Reflecting Pool has been solved. The contractor responsible for its recent renovation has admitted to the Trump administration that its own faulty work, not vandalism, was the cause. The new blue liner was seen peeling and breaking loose, which had initially sparked speculation of malicious damage. However, the contractor has now confirmed that errors in its work and flawed plans were to blame for the high-profile failure at one of the nation's most iconic landmarks.
• Also marking 25 years since 9/11, the NYPD's counterterrorism unit is facing a radically different threat landscape. Deputy Commissioner Rebecca Weiner stated that threats are no longer concentrated from foreign terror groups but now come from a diverse array of domestic actors—far-left, far-right, and those driven by conspiracy theories. The unit's focus has shifted to combating what she calls 'grievance-fueled' and nihilistic threats. These dangers are often amplified and accelerated online, creating a more complex and unpredictable challenge for law enforcement.
• ACV Auctions is today's standout performer, surging over 44 percent to trade at ten dollars and forty-five cents. The massive jump comes on the heels of news that the company is being acquired by Copart in an all-cash deal valued at approximately 1.9 billion dollars. This acquisition marks a significant premium for shareholders and is the primary driver behind the stock's dramatic move.
• Dell Technologies is climbing to a new record high, up nearly 12 percent to five hundred and sixty-seven dollars and twenty-nine cents. The rally is fueled by accelerating demand for its AI-optimized servers and a bullish initiation from RBC Capital with an 'Outperform' rating. The company's growing AI backlog, now at 95 billion dollars, signals robust future growth and reinforces investor confidence in its enterprise hardware dominance.
• Hewlett Packard Enterprise is up more than 12 percent, trading at sixty-two dollars and nine cents. The significant gain is driven by a post-earnings re-rating as demand for its AI servers, networking, and storage infrastructure accelerates. With revenue up nearly 34 percent year-over-year in its latest quarter, the market is responding positively to HPE's strong position in the growing enterprise AI market.
• As the afternoon develops, we'll be keeping an eye on any further developments out of the Middle East and the political fallout from former President Trump's latest remarks. Looking ahead to this evening, baseball fans have a full slate of games. Key matchups include the Philadelphia Phillies versus the Atlanta Braves at 7:15 PM Eastern. Later on, the Seattle Mariners take on the Oakland Athletics at 10:00 PM Eastern, followed by the San Diego Padres and San Francisco Giants at 10:15 PM. We'll be back with more later today. Stay with us.