Lee Jackson
Mon, August 3, 2026 astatine 6:53 AM CDT 5 min read
Quick Read
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Bond vigilantes drove the 30-year Treasury output to 5.27%, its highest since 2007, arsenic ostentation fears constituent toward a September complaint hike.
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Morgan Stanley slashed Circle Internet's (CRCL) terms people from $106 to $38, portion Coinbase (COIN) plunged 15% aft a $360 cardinal Q2 loss.
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Eaton (ETN) earned an Outperform upgrade astatine Evercore ISI with a $502 target, portion eBay (EBAY) was chopped to Underweight astatine Wells Fargo.
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Pre-Market Stock Futures:
Futures are trading higher arsenic we get acceptable to commencement August and the caller trading week. Friday's coagulated rally capped disconnected a chaotic month, which saw large swings successful the market, including a monolithic down time for the Dow Jones Industrial Average, which fell implicit 1,100 points past Wednesday. Despite the large drop, the venerable scale with 30 Blue Chip giants ended Friday astatine 52,485, up 0.53%, and closed retired its 4th consecutive winning month. The Nasdaq had a beardown time to decorativeness July, closing up 1% astatine 25,373, portion the S&P 500 closed Friday astatine 7,489, up 0.70%. The lone scale to decorativeness little for the week was the small-cap Russell 2000, which closed astatine 2,931, down 0.50%. Despite closing lower, the Russell 2000 is inactive the starring scale for 2026, up 17.7% twelvemonth to date, much than treble the different 3 indices.
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Treasury Bonds:
The enslaved vigilantes were hard astatine enactment past Friday arsenic sellers pushed yields to their highest levels successful years. Despite a coagulated PCE print, Friday sellers took implicit the output curve with rates surging higher. When the last doorbell rang, the 30-year Treasury closed astatine a 5.27% yield, the highest since July of 2007, portion the 10-year enactment closed astatine 4.72%, the highest for the benchmark insubstantial since January of 2025. Inflation worries, driven by ongoing precocious vigor prices and a perceived deficiency of Federal Reserve enactment to rise rates, ignited overmuch of the selling. The July user and shaper terms scale volition apt amusement an uptick successful inflation, which could fastener successful a September 25 ground constituent hike.
Oil and Gas:
Oil traded higher erstwhile again connected Friday, arsenic skirmishes with Iran continued, and the large integrated lipid companies posted staggering net results that drew the ire of the President. When the last commercialized was posted, Brent Crude closed the league astatine $87.93, up 1.21%, portion West Texas Intermediate closed astatine $84.67, up 1.29%. The last people for Natural state came successful astatine $2.75, down 0.40%.

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