U.S. Markets Decline Amid Walmart's Earnings Miss and Interest Rate Concerns

U.S. stock indexes declined on Thursday, with the S&P 500 falling 0.4%, marking its fifth consecutive loss since reaching a record high last week. The Dow Jones Industrial Average dropped 137 points (0.3%), and the Nasdaq Composite decreased by 0.4%.

Walmart shares fell 5.1% after the retailer reported quarterly profits that missed analysts' expectations, despite a 4.8% increase in global revenue to $177.4 billion and a 25% surge in e-commerce sales. The company attributed the profit shortfall to higher costs, including those related to tariffs.

Bond yields rose following data indicating accelerated U.S. business activity and rising prices, suggesting persistent inflation. This development led investors to scale back expectations for imminent interest rate cuts by the Federal Reserve.

Investors are now focusing on Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole conference, seeking insights into future monetary policy.

In other market movements, Coty Inc. shares plunged 21.6% after reporting a quarterly loss, while Nordson Corp. gained 3.8% on better-than-expected earnings.

International markets were mixed, with minor movements in Germany and Japan.