U.S. stock index futures were largely unchanged on Thursday as government bond yields moved higher, setting the stage for Walmart’s upcoming earnings release. The 30‑year Treasury yield rose 2.3 basis points to 5.217%, while the benchmark 10‑year yield edged up to 4.67%.
Bond yields had fallen for two consecutive sessions after the Treasury announced support measures for long‑duration bonds, providing a short‑lived boost to global risk appetite. The recent rebound in yields reflects renewed concerns over the growing national debt, which the Treasury Department confirmed has surpassed $40 trillion for the first time.
Market focus on Walmart
All eyes are on Walmart, the nation’s largest retailer, whose quarterly earnings are due before the market open. Analysts see the results as a barometer for U.S. consumer spending. In pre‑market trading, Walmart shares were modestly higher, indicating cautious optimism.
Futures performance
At 05:52 a.m. ET, Dow E‑minis slipped 89 points (‑0.17%), S&P 500 E‑minis fell 5.25 points (‑0.07%), while Nasdaq 100 E‑minis rose 12.5 points (‑0.04%). Mega‑cap and growth stocks posted mixed results: Apple and Alphabet each slipped about 0.2%, whereas Nvidia and Meta posted slight gains.
Oil and energy stocks
Oil prices climbed 2.4% for a fifth straight session, driven by stalled U.S.–Iran peace talks and ongoing supply disruptions in the Middle East, which continue to stoke inflation concerns. Energy giants Chevron and ExxonMobil each rose roughly 1%.
Other market moves
Cosmetics company Coty dropped 7.6% after forecasting current‑quarter earnings below expectations and withholding its full‑year outlook. Cryptocurrency‑related stocks rallied after former President Donald Trump urged Congress to pass a crypto‑focused bill. Strategy Shares surged 10.5% and Coinbase Global climbed 7.5%, making them among the day’s top performers.
Biotech firm Moderna fell 11.4% following a sharp correction after a prior surge of nearly 177%.
Economic backdrop
Investors will also watch weekly jobless claims data later in the day and listen for comments from St. Louis Fed President Alberto Musalem. Minutes from the Federal Reserve’s July meeting revealed that several policymakers remain prepared to raise interest rates if inflation does not move toward the 2% target.
Overall, the recent macro‑economic developments have pulled the S&P 500 and Dow down from record highs reached earlier this month, despite a strong earnings season that has highlighted robust performance across many sectors, including artificial‑intelligence leaders.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
