Pressure builds anew in the bond market as Walmart drags the US stock market lower

Oil prices rose Thursday, reviving worries about inflation and lifting bond yields, which erased some of the previous day’s easing tied to Treasury activity. Stocks fell as Walmart weighed on the market after its latest profit report. By 1:02 p.m. Eastern, the S&P 500 was down 0.4% and on pace for a fourth loss in five sessions after it set an all-time high last week. The Dow fell 424 points (0.8%) and the Nasdaq dropped 0.7%. The bond market stayed the focus as yields rose through summer concerns over high inflation and massive government debt. Wednesday’s Bessent move expanded longer-term Treasury purchases from Sept. 9 to Nov. 4 to at least double the planned size.