"Futures are trading lower on Thursday, as Walmart's forward outlook was disappointing. Risk-on was back on Wednesday, as the stock market, which is off to its worst start of the year versus global markets since 1995, rebounded. A combination of positive economic data, strong earnings, and relief from AI financing jitters helped push stocks higher. With Walmart releasing earnings this morning, the fourth-quarter earnings season will come to a close, and for the most part, it was extremely positive."
"Yields were higher across the curve on Wednesday, and once again, a combination of profit-taking and perhaps some short sellers coming to the party helped to drive government debt prices lower. Some sources indicate that foreign investors are losing appetite for US debt, driving down prices amid ongoing geopolitical risks, which, in theory, should be positive. The 30-year bond closed at 4.71% on Wednesday, while the benchmark 10-year note was last quoted at 4.09%."
"Oil surged more than 4% on Wednesday after reports that Iran failed to address U.S. 'red lines' during nuclear negotiations in Geneva. Vice President Vance noted that despite solid discussions, Iran did not address key issues, and the United States has raised concerns about regional stability. Brent crude closed at $70.21, up 4.14%. West Texas Intermediate was up even more, closing at $65.10, up 4.44%. Natural gas ended the day lower at $3.02."
Futures are trading lower on Thursday after Walmart's disappointing forward outlook. Risk-on sentiment returned Wednesday as U.S. equities rebounded from their worst start relative to global markets since 1995. Positive economic data, strong corporate earnings, and easing AI financing concerns pushed major indices higher, led by the Nasdaq. The fourth-quarter earnings season concludes with Walmart's report, and overall results skewed extremely positive. Treasury yields rose across the curve amid profit-taking and reduced foreign demand for U.S. debt, with the 30-year at 4.71% and the 10-year at 4.09%. Oil jumped over 4% on Iran negotiation news, while gold climbed above $5,000.
Read at 24/7 Wall St.
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