Pressure Builds Anew in the Bond Market as Walmart Drags the US Stock Market Lower
Weaker U.S. sales and a softer earnings outlook sent Walmart shares lower as rising Treasury yields and oil prices pressured the broader market.
- On Thursday, The Dow Jones Industrial Average dropped 350 points, or 0.6%, while Walmart stock tumbled 8% after disappointing earnings and weak guidance. The Nasdaq retreated 0.4% as the retailer's outlook weighed on broader markets.
- Bond yields climbed Thursday, reversing Wednesday's pullback after the Treasury Department announced it would at least double repurchases of 10-, 20-, and 30-year debt. The 30-year had spiked to its highest level in nearly 20 years earlier this week.
- West Texas Intermediate crude futures advanced 2% to approximately $88 per barrel, while Brent crude gained 3% to top $94, following President Donald Trump's Wednesday announcement that he would launch the "most crushing economic operation ever taken against any country" against Iran.
- Bitcoin rose roughly 4.7% to around $71,610, as crypto stocks defied the broader market's downward pressure, according to The Wall Street Journal. Trump's backing of legislation favorable to the industry fueled these gains.
- Analysts at ING, as quoted by The Wall Street Journal, compared the Treasury Department's maneuver to "rearranging deckchairs on the Titanic," noting that without a concrete path to addressing the country's $40 trillion debt, lasting relief remained far-fetched. Michael Schumacher, former head of macro at Wells Fargo, shared that skepticism.
60 Articles
60 Articles
Bond market swings back and knocks U.S. stocks lower
NEW YORK — The relief that swept the bond market just a day earlier disappeared on Thursday as oil prices, worries about high inflation and the U.S. government’s debt kept rising. That helped knock the U.S. stock market to its worst day in three weeks, and Walmart led the way on concerns about its upcoming profits.
The Economic Times
Times of IndiaUS stocks: US market sinks as bond yields rise, Walmart results disappoint
The S&P 500 consumer discretionary sector was one of the biggest drags on the benchmark index, with megacaps including Amazon and Tesla among its biggest index-point weights. Big percentage decliners included Royal Caribbean Group and Carnival Corp, which are sensitive to fuel prices.
Oskaloosa Herald
The bond market swings back to worries and helps knock US stocks lower
The relief that swept the bond market just a day before is disappearing as oil prices, worries about high inflation and the U.S. government’s debt keep rising. That helped knock the U.S. stock market lower on Thursday, and Walmart led…
Higher yields in the bond market and a drop for Walmart drag US stocks lower
A rise in oil prices on Thursday is sending worries about inflation and yields in the bond market higher, erasing some of the relief the U.S. Treasury Department created the day before. The higher yields and a big drop for…
The main indices of the New York Stock Exchanges opened in fall, pressed by the revenues of the Treasures, which resume the high trajectory after the fall of yesterday caused by the announcement of increase of the buybacks of long-term titles by the American Treasury. Oil also rises, amidst the increase of tensions between the United States and Iran, after the announcement of new economic restrictions to Tehran. At around 10:30 (from Brasilia), …
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