Bond Yields Rebound, BJ’s Beats Estimates, S&P Global PMI Ahead
By Juliegrace Brufke | Quincy News Correspondent
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Washington (Quincy News) — Market Recap: Stocks fell Thursday as Treasury yields rebounded, largely reversing the decline that followed the Treasury Department’s announcement that it would expand long-term debt buybacks. The S&P 500 dropped 0.9%, the Nasdaq fell 1.0% and the Dow lost 1.3%.
Walmart led the decline, with its shares falling more than 9%, after the retailer reported its slowest U.S. comparable sales growth in six years. Walmart said higher gasoline prices were contributing to changes in consumer spending.
The Treasury said Wednesday it would at least double certain long-end debt buybacks to $4 billion per operation. Yields rebounded Thursday, with the 10-year ending around 4.70% and the 30-year around 5.25%. Oil also rose after President Trump said the U.S. would intensify economic pressure on Iran.
Today’s Focus: The calendar is relatively light Friday, with S&P Global’s preliminary August U.S. manufacturing and services PMIs due at 9:45 a.m. ET. BJ’s Wholesale Club reported stronger-than-expected second-quarter results before the opening bell and also raised its full-year profit outlook.
Attention is also turning to next week’s Jackson Hole symposium, which runs Aug. 27-29 and will mark Fed Chair Kevin Warsh’s first appearance at the annual gathering as chair. Investors will be watching for signals on the path of interest rates as Fed officials remain divided over whether further tightening is needed.
ON THE SCHEDULE FOR FRIDAY, AUGUST 21, 2026
-Friday, 9:45 a.m. ET – August S&P Global Flash US PMI
-Earnings – BJ’s Wholesale Club
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