Debt Tops $40T as Treasury Buybacks Lift Markets, Oil Rises
By Tom LoBianco | Quincy News Correspondent
Click here for updates on this story
Washington (Quincy News) — Market Recap: The Treasury’s buyback announcement helped lift stocks higher Wednesday. Moderna shares surged after positive news in the development of a melanoma vaccine. Oil climbed amid President Trump’s latest threats against Iran. And U.S. debt topped $40 trillion for the first time.
The S&P 500, Dow and Nasdaq each gained about 0.2%. Treasury yields fell after Treasury announced it would double some buybacks of longer-term government debt, with the 10-year falling about 5 basis points and the 30-year about 9 basis points. Oil also rose amid continued uncertainty over Iran and the Strait of Hormuz.
The Fed’s July meeting minutes showed increased concern about inflation. Several policymakers were prepared to raise rates at the meeting, while many said an increase could be needed if inflation does not move back toward the Fed’s 2% target.
Today’s Focus: Walmart raised its full-year outlook Thursday but missed Wall Street expectations for quarterly comparable sales as shoppers pulled back amid higher gas prices. Shares fell about 6% in premarket trading.
Weekly jobless claims land at 8:30 a.m. ET.
ON THE SCHEDULE FOR THURSDAY, AUGUST 20, 2026
-8:30 a.m. ET – Weekly jobless claims; Philadelphia Fed manufacturing survey
-Thursday earnings – Walmart, Deere, Alibaba
-Friday, 9:45 a.m. ET – August S&P Global Flash PMIs
Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.