SynopsisThe S&P ‌500 consumer discretionary sector was one of the biggest drags on the benchmark index, with megacaps including Amazon and Tesla among its biggest index-point weights. Big percentage decliners included Royal Caribbean Group and Carnival Corp, which are sensitive to fuel prices.

ReutersA screen shows trading of the S&P 500 Index after the closing bell at New York Stock Exchange (NYSE) in New York City. S.

equity indexes closed lower on Thursday as rising Treasury yields dented risk appetite, disappointing results from retail bellwether Walmart soured investors on the consumer sector and rallying oil prices fanned inflation worries. Walmart shares fell sharply after it missed Wall Street expectations for quarterly comparable sales as rising gasoline prices had shoppers reining ‌in spending.

The ⁠report dragged down ⁠the S&P 500 consumer staples index and consumer discretionary. Rival retailers such as Costco, Dollar Tree and Albertsons followed Walmart lower.

S. S.

consumer, according to Mona Mahajan, head of investment strategy at Edward Jones. She noted that investors were already anxious after recent weaker-than-expected retail sales and labor market data for July."

There is some question about how resilient the consumer can be with ongoing elevated gas prices and inflationary pressures," Mahajan said. The strategist also highlighted pressure from rising bond yields on equities.

S. ⁠Treasury Department ‌said it would spend more than double the expected amount on buying back bonds in a bid to slow a recent surge in yields.

On Thursday, however, stocks declined as yields advanced again. S.

Treasury Secretary Scott Bessent said he may again increase the volume of Treasury bonds the government will repurchase. But yields resumed their upward trend."

There are a couple of headwinds that the markets woke up to today," said Mahajan. " One was a resumption in the increase in bond yields across the curve that came despite yesterday's Treasury move ...

it reversed very quickly, within 24 hours." 81.

43. The S&P ‌500 consumer discretionary sector was one of the biggest drags on the benchmark index, with megacaps including Amazon and Tesla among its biggest index-point weights.