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.
17 Articles
17 Articles
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), …
(Seoul = Yonhap News) Reporter Yoon Jung-won of Yonhap Infomax = The three major stock indices of the New York stock market opened lower as they digested rising Treasury yields and poor earnings from Walmart.
The Columbian
Pittsburgh Post-GazettePressure builds anew in the bond market as Walmart drags the U.S. stock market lower
NEW YORK — 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. A drop for Walmart following its latest profit report helped drag the U.S. stock market lower.
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