US stocks open lower as bond yields rebound; Walmart slips after sales miss
Key Takeaways
- •The Dow Jones Industrial Average fell 81.8 points at the opening bell on Thursday.
- •The S&P 500 and Nasdaq Composite also opened lower.
- •Rising government bond yields were a key factor pressuring investor sentiment.
- •Walmart weighed on the market after reporting a rare sales miss.
- •A government report showed employers unexpectedly cut 23,000 jobs last month.
US stocks open lower as bond yields rebound; Walmart slips after sales miss
Major US stock indexes opened lower on Thursday as rising government bond yields weighed on investor sentiment. Retail giant Walmart also pressured the market after reporting a rare sales miss that disappointed investors.
At the opening bell, the Dow Jones Industrial Average fell 81.8 points. The S&P 500 and the Nasdaq Composite also declined.
The move came even as stocks were mostly higher in early trading on Wall Street and Treasury yields were lower after the government reported that employers unexpectedly cut 23,000 jobs last month. The combination underscored how quickly sentiment can shift when investors reassess the outlook for borrowing costs and consumer demand, two closely watched inputs for stocks ahead of the rest of the day’s trading.
