By Lee Jackson
Publication Date: 2026-08-21 11:59:00
© Chaay_Tee / iStock via Getty Images
Pre-Market Stock Futures:
Futures are trading higher after a big risk-off Thursday, as all major indices closed lower. Higher interest rates and oil did the trick once again as Treasury Secretary Bessent’s effort to curb rising rates by buying the long end of the Treasury market fell flat. When the final bell rang, the small-cap heavy Russell 2000 was bludgeoned to the tune of down 1.36% to close at 2,991, while the legacy Dow Jones Industrials was not far behind, falling 1.31% to end the session at 52,762. Retail giant Walmart (NYSE: WMT | WMT Price Prediction), a member of the index, fell almost 10% after posting solid results but a very disappointing forward sales outlook. The tech-heavy Nasdaq finished the day at 26,067, down 1%, while the S&P 500 closed at 7,641, down 0.87%.
Treasury Bonds:
Well, so much for the Treasury Department buying bonds. Mr. Bessent’s gambit looked smart yesterday, but the bond vigilantes didn’t…