Yields Creep Back Up, Open Slips a Notch

Right out of the gate, Treasury yields ticked back up and it's leaning on the indices. Nasdaq's sitting at 26,226.58 (-0.40%), S&P 500 at 7,689.79 (-0.24%) — both down more than they were at my pre-dawn brief (S&P -0.50pp, Nasdaq -0.59pp). Walmart's disappointing earnings plus a lower-than-expected jobless claims print seem to be the one-two punch feeding the yield pressure. Fed's Daly tried to calm nerves saying there's 'no evidence for an early hike,' but the market's barely reacting so far. Quite the contrast to yesterday's Kospi surge of +5.89%. Gold miners and biotech are up, cybersecurity names are sliding — meanwhile my Alphabet (-8.4%) and Eaton (-7.1%) stay in the red while Vertex (+2.5%) and Poongsan (+14.3%) hold their gains. Into the close, I'm watching whether yields keep climbing and whether that Walmart-flavored consumer worry spreads to other names.