US open: Stocks lower as crude jumps, long‑dated yields rebound
By Iain Gilbert
Date: Thursday 20 Aug 2026
(Sharecast News) - Major indices were in the red early on Thursday as both oil prices and bond yields pushed higher amid renewed tensions between the US and Iran.
As of 1510 BST, the Dow Jones Industrial Average was down 0.64% at 53,120.51, while the S&P 500 shed 0.35% to 7,680.99 and the Nasdaq Composite came out of the gate 0.59% weaker at 26,175.01.
The Dow opened 342.54 points lower on Thursday, more than erasing gains recorded in the previous session as long‑dated Treasury yields retreated after the US Treasury said it would significantly expand buybacks of longer‑term government debt.
Oil prices were higher at the open on Thursday, with West Texas Intermediate futures up 2.12% at $87.65 a barrel and Brent crude futures were 2.11% higher $93.55 a barrel, after Donald Trump warned the US would launch "the most crushing economic operation ever taken against any country" against Iran, describing it as "economic warfare and isolation on an unprecedented scale".
Bond yields are also in focus as they climbed back from Wednesday's slide after the US Treasury Department said it would at least double repurchases of 10-, 20- and 30-year noted over the next few months after the 30-year Treasury bond yield spiked to its highest level in almost 20 years earlier in the week. The yield on the 10-year noted gained more than five basis points to 4.7056%, while the 30-year note also advanced just under five basis points to 5.244%.
Walmart also weighed on sentiment, with shares falling in early action despite the retailer delivering another quarter of solid top‑line growth and lifting its full‑year outlook. Revenues rose 5.9% in Q2 as global e‑commerce sales jumped 23%, while US comparable sales increased 2.6% - short of the 3.5% expected - as price caps on certain drugs hit its health and wellness division. For Q3, Walmart said it expects net sales to rise 3% to 3.75%, with adjusted earnings per share seen between $0.62 and $0.64.
Elsewhere in the corporate space, trade bellwether John Deere was higher in early trading after the agricultural equipment maker posted a stronger‑than‑expected set of fiscal third‑quarter numbers. John Deere delivered earnings of $5.10 per share, comfortably ahead of the $4.69 pencilled in by analysts, while revenues grew 5% year‑on‑year to $12.61bn, well above the $10.81bn expected. The Illinois-based firm said the performance reflected disciplined execution and resilience across its core agricultural markets.
On the macro front, Americans lined up for unemployment benefits at a decelerated pace in the week ended 15 August, according to the Labor Department, with initial claims coming in below expectations. Initial claims fell by 6,000 to 206,000, better than expectations for a reading of 210,000, while the four-week moving average, which aims to strip out week-to-week volatility, was up by 4,250 week-on-week at 204,000. Continuing claims also rose, up by 18,000 week-on-week at 1.79m.
Elsewhere, the Philadelphia Fed's manufacturing gauge strengthened sharply in August, with the headline index rising to 47.4 from 41.4 in July - its highest reading since April 2021 and well above the 25 expected. Almost 57% of businesses reported higher activity, while just 10% saw declines. New orders eased to 30.1 and shipments slipped to 27.7, though both remained at solid levels and the employment index jumped to 27.9, its strongest since April 2022, signalling continued job creation across the sector. Forward‑looking sentiment improved markedly, with the future general activity index surging 39 points to 73.6, its highest reading since August 1983, pointing to a sharp rise in optimism among manufacturers.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Dow Chemical Co. (DOW) $32.88 3.40%
Apple Inc. (AAPL) $317.77 1.90%
McDonald's Corp. (MCD) $271.78 1.62%
Amgen Inc. (AMGN) $437.28 1.36%
Walt Disney Co. (DIS) $108.69 1.26%
Chevron Corp. (CVX) $207.89 0.91%
Unitedhealth Group Inc. (UNH) $392.63 0.80%
Coca-Cola Co. (KO) $91.08 0.66%
Visa Inc. (V) $367.90 0.58%
Microsoft Corp. (MSFT) $482.60 0.49%
Dow Jones - Fallers
Intel Corp. (INTC) $89.89 -6.54%
Home Depot Inc. (HD) $338.06 -1.81%
American Express Co. (AXP) $334.44 -1.75%
Cisco Systems Inc. (CSCO) $110.14 -1.56%
Nike Inc. (NKE) $40.58 -1.05%
Boeing Co. (BA) $219.20 -1.01%
Caterpillar Inc. (CAT) $806.61 -0.77%
Merck & Co. Inc. (MRK) $150.95 -0.68%
JP Morgan Chase & Co. (JPM) $355.50 -0.66%
International Business Machines Corporation (CDI) (IBM) $235.59 -0.49%
S&P 500 - Risers
Illumina Inc. (ILMN) $210.34 7.07%
Verisk Analytics Inc. (VRSK) $189.05 6.09%
CF Industries Holdings Inc. (CF) $127.09 6.07%
Cognizant Technology Solutions Corp. (CTSH) $61.37 6.06%
Apache Corp. (APA) $44.87 4.49%
Willis Towers Watson Public Limited Company (WTW) $340.87 3.96%
Intuit Inc. (INTU) $363.86 3.85%
Carmax Inc. (KMX) $61.09 3.72%
Deere & Co. (DE) $603.35 3.67%
Netflix Inc. (NFLX) $80.64 3.61%
S&P 500 - Fallers
Advance Auto Parts (AAP) $45.03 -20.32%
Ipg Photonics Corp. (IPGP) $75.00 -8.72%
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Seagate Technology Plc (STX) $828.11 -8.19%
Western Digital Corp. (WDC) $454.00 -7.92%
Coty Inc. Class A (COTY) $2.80 -7.59%
Intel Corp. (INTC) $89.89 -6.54%
NetApp Inc. (NTAP) $192.48 -5.79%
United Airlines Holdings Inc (UAL) $113.19 -5.34%
Lam Research Corp. (LRCX) $306.24 -5.28%
Nasdaq 100 - Risers
Mercadolibre Inc. (MELI) $1,902.69 7.33%
Illumina Inc. (ILMN) $210.34 7.07%
Verisk Analytics Inc. (VRSK) $189.05 6.09%
Cognizant Technology Solutions Corp. (CTSH) $61.37 6.06%
Netflix Inc. (NFLX) $80.64 3.61%
Intuit Inc. (INTU) $363.86 3.56%
Workday, Inc. (WDAY) $198.40 3.11%
Incyte Corp. (INCY) $128.49 2.79%
Mondelez International Inc. (MDLZ) $64.71 2.56%
Kraft Heinz Co. (KHC) $25.72 2.47%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Western Digital Corp. (WDC) $454.00 -7.92%
Seagate Technology Plc (STX) $828.11 -7.34%
Intel Corp. (INTC) $89.89 -6.63%
Lam Research Corp. (LRCX) $306.24 -5.28%
Align Technology Inc. (ALGN) $160.96 -4.43%
KLA-Tencor Corp. (KLAC) $185.56 -4.10%
Microchip Technology Inc. (MCHP) $76.03 -3.86%
DENTSPLY Sirona Inc. (XRAY) $11.05 -3.80%
Wynn Resorts Ltd. (WYNN) $98.09 -3.60%
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