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Stocks fall at the open as yields rebound and oil prices rise
Walmart shares fell 8% after earnings, weighing on Consumer Staples and dragging down broader defensive stocks.
Stocks declined at the open after Treasury yields clawed back some of the losses from the prior session, a shift attributed in the market wrap to support efforts by U.S. Treasury Secretary Scott Bessent for the bond market, and to higher oil prices.
Yahoo Finance reports that Consumer Discretionary stocks were the hardest hit, while Consumer Staples slid as Walmart dropped 8% following its earnings results. The report also links weaker Walmart sales growth to pressure on other defensive names such as Costco.
Energy stocks outperformed as crude rose, with oil moving higher on renewed Middle East risk after President Trump threatened “economic warfare” on Iran. The broader market dip was reflected across the Dow, S&P 500, and Nasdaq Composite in the first minutes of trading, according to Yahoo Finance’s heat map data.
Latest closeWTI crude $82.40 ▲1.4%|S&P 500 7,785.76 ▼0.2%|Nasdaq Comp. 26,729.16 ▼0.3%