Saudi Arabia issued alerts to its citizens early Saturday amid reports of explosions in the capital Riyadh.

The Directorate of Saudi Civil Defense issued the early-warning alerts after Reuters reported two booms in Riyadh, but the agency later gave the all-clear. It subsequently reported a large plume of smoke and flames visible near the city’s main airport, King Khalid International Airport.

The cause of the smoke and flames was unclear, and Saudi authorities did not immediately respond to CNBC’s request for comment.

The Iran-backed Houthis in Yemen stepped up their attacks on Saudi Arabia in recent weeks and launched a lightning ground offensive around Bab el-Mandeb Strait — a strategically vital oil choke point — seizing Mokha and nearby islands

U.S. President Donald Trump’s administration last week approved the potential $24.3 billion sale of nearly 50 F-35 warplanes to Saudi Arabia, seen as a major boost for the kingdom.

The package, announced on Thursday, includes the sale of 48 of Lockheed Martin’s advanced F-35 jets, plus 49 Pratt & Whitney engines and other parts.

Meanwhile, Mohsen Rezaei, Secretary of Iran’s Supreme National Security Council, told MS NOW on Saturday that consultations with Qatari and Pakistani mediators continue and that they have communicated their negotiation conditions to the U.S.

“We are in contact with the Qatari mediator; they have conveyed our conditions for halting the war to Washington, and we are awaiting President Trump’s response to these terms,” Rezaei said. “Our conditions are: An end to the war on all fronts, the release of Iran’s frozen assets, and the lifting of the naval blockade.”

The Iranian official also confirmed that Pakistan’s Interior Minister, Mohsin Naqvi, is set to travel to Tehran for meetings with Iranian officials about finding a way to return to the Memorandum of Understanding signed in June.

MS Now reports that the White House has not yet responded to these claims.

Separately, Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar spoke with Iranian Foreign Minister Abbas Araghchi.

“DPM/FM stressed the importance of uninterrupted energy supplies and the safe and expeditious passage of ships, particularly given their implications for developing countries and global supply chains,” Pakistan’s foreign ministry said in a post on X.

The two diplomats agreed to meet on the sidelines of the United Nations General Assembly in New York next week, the ministry said.

Reuters quoted a State Department spokesperson as saying on Sept. 11 that a “core delegation from the Iranian regime” would be allowed to attend the meeting in line with the United States’ obligations as the world body’s host country.

‘Hopefully’ nearing the end of the war

Trump said Wednesday that the country is “hopefully” approaching the end of its nearly seven-month war with Iran.

Brent crude oil, the international benchmark, is up 72% since the start of 2026 as the war choked off energy supplies flowing through the Strait of Hormuz between Iran and Oman.

Saudi Arabia has tried to divert its oil exports away from the strait by pumping it through its East-West pipeline to the Red Sea. But a drone attack that Saudi Arabia said originated in Iraq damaged the East-West pipeline on Sept. 11, forcing a shutdown.

Crude prices fell for the third consecutive session Friday to finish the week basically flat, as the market anticipates the closure of Saudi Arabia’s East-West pipeline will not have as big an impact on supplies as originally feared.

U.S. West Texas Intermediate futures fell 1.6% to close at $100.30 per barrel. Brent crude traded 0.9% lower, settling at $103.87.

— CNBC’s Terri Cullen contributed to this report.

It might be a smart move for investors to secure reliable income through bonds, though careful selection remains crucial. The Federal Reserve increased interest rates on Wednesday, pushing the fed funds rate to a range of 3.75% to 4%. The central bank also hinted at one more rate hike by year-end. Although the 10-year Treasury yield briefly surpassed 5% following the decision, it settled slightly lower on Thursday at roughly 4.95%. Bond yields and prices move in opposite directions.

“I’m not certain we’ve reached the peak in yields,” noted Brian Rehling, co-head of global fixed income and digital asset strategy at Wells Fargo Investment Institute. “The Fed likely still has work ahead.” Bond yields—especially on 10- and 30-year Treasurys—had already been climbing before the Fed’s action, driven by inflation worries, increased bond issuance from AI firms, and growing government deficits. Those chasing total returns, which combine price gains and income, might prefer equities for now, as bond yields are expected to rise further, according to Rehling.

Still, income-focused investors can take advantage of appealing yields. “If you’re less concerned with market fluctuations and can lock in 5% or more from investment-grade or high-yield bonds,” he said, “that’s compelling because even with some price drops, the coupon payments help offset losses.” Matthew Palazzolo, senior investment strategist at Bernstein Private Wealth Management, also sees the recent climb in Treasury yields as a strong opportunity for income investors. “This lifts overall rates and boosts income. And as we’ve told our clients, it creates a favorable entry point,” he commented.

Investment-grade corporate bonds are particularly attractive now, as the economy is expected to stay resilient and company fundamentals remain robust, Rehling said. Investors could also consider high-yield bonds, but should focus on higher-rated issuers, since looser financial conditions may strain weaker borrowers. He recommends sticking with shorter-duration bonds—ideally two years or fewer, and no longer than five years.

UBS’s chief investment office identifies selective opportunities across regions and asset classes. “Investors should align credit risk and duration with their goals and time horizons,” wrote Ulrike Hoffmann-Burchardi, chief investment officer for the Americas and global head of equities at UBS Financial Services. She recommends gradually increasing duration in high-quality bonds. “In addition to solid income, these bonds could gain value if restrictive monetary policy dampens growth or lowers long-term inflation expectations, causing yields to fall,” she added. Intermediate-term investment-grade corporates offer good income, while riskier credits such as high-yield and emerging-market bonds should be kept short-dated.

Tax-free income is another consideration. Palazzolo says this is a good moment to look at municipal bonds. Since munis are exempt from federal taxes—and state taxes too, if held by residents of the issuing state—they can be especially appealing. “Buying munis at current levels gives you a solid income stream upfront, and even if rates keep rising, you’re cushioned by the income you’re earning,” he explained. He favors muni portfolios with a duration around six years, offering steady income and lower interest-rate sensitivity.

While bonds may also act as a stabilizer in diversified portfolios, some firms are cautious about returning to traditional 60/40 allocations just yet. “Higher starting yields support bonds as a core income source, and high-quality bonds can offer meaningful diversification if growth slows,” Hoffmann-Burchardi said. Goldman Sachs is currently underweight the 10-year Treasury and doesn’t anticipate an immediate shift back to classic 60/40 portfolios. “There’s a case for returning to more normalized strategic bond weights, but the near-term tactical outlook for long bonds is uncertain,” Goldman Sachs analyst Christian Mueller-Glissmann wrote in a note. Energy constraints and central bank moves will likely steer both bond and stock markets in the coming months, with rate cuts potentially boosting both, though rising yields may weigh more heavily on stocks. “Over time, though, stronger starting yields should push bond allocations back toward historical averages from the lows seen in recent years,” he added.

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Shares of Mercari jumped more than 4% on Friday, extending their rebound from a selloff sparked by the Japanese online marketplace’s restrictions on listings of Pokémon’s 30th anniversary products announced Tuesday.

The company said the restrictions would remain in place for as long as it determines that a safe and secure trading environment cannot be ensured.

Its shares closed 6.4% lower on Wednesday, the day the restrictions took effect, before recovering to close 1.4% higher on Thursday.

The stock was also outperforming the Nikkei 225 on Friday morning, which was up roughly 1%.

Mercari said it imposed the temporary listing ban over concerns that a surge in transactions following the release of the anniversary products could lead to trading disputes, as well as harassment of users involved in transactions.

Citibank attributed Wednesday’s more than 6% drop to Mercari’s announcement of the Pokémon card listing restrictions. It said Mercari’s recent share-price weakness had pushed the stock to “overly pessimistic levels,” calling the shares “oversold” and the pullback an investment opportunity.

Growth in the value of goods sold on Mercari’s marketplace in the second half of fiscal 2026 exceeded expectations, while a recovery across multiple categories could support double-digit growth, the bank added.

Citi also said that the halt to trading of certain products was negative for Mercari, but said the impact was not significant enough for the bank to revise its forecasts.

The restrictions come amid a global Pokémon card boom. Online marketplace eBay said “Pokémon” was searched more than six million times on its U.K. site in July, underscoring continued demand for trading cards.

Pokémon card prices have surged 1,350% since 2020, according to an index compiled by Collectors, which owns card grading agency Professional Sports Authenticator, Verum previously reported. In February, influencer Logan Paul sold a rare Pikachu Illustrator card for more than $16 million, after buying it for just over $5 million in 2021. New cards can sell out within minutes, with people coordinating on X and Discord to know where to go.

A post on X this month claimed that a Pokémon card sold for $2.7 million at auction, setting a record.

Mercari signed an agreement with The Pokémon Company in 2023 to promote safer trading of Pokémon products on its marketplace, and introduced a policy in 2025 allowing it to restrict listings when issues such as fraud, transaction disputes or extreme price swings threaten marketplace safety.