Market Open: Stocks Slip, Walmart Sales Underwhelm, Advance Auto Shares Slump
Speakers
Peter Schacknow
— Anchor, CNBC Business News Update
Michael Lasser
— Hardline Retail Analyst, UBS
Summary
Peter Schacknow reports on a lower market open as Treasury yields rebound and oil prices climb. Walmart and Advance Auto Parts fall sharply on disappointing same-store sales, while Deere rises on strong earnings and raised guidance. Initial jobless claims fell to 206,000.
- Stocks opened lower as Treasury yields rose and oil prices increased.
- Dow dropped 349 points; S&P 500 and Nasdaq also traded lower.
- Walmart slid more than 8% despite a revenue beat and raised outlook due to weak same-store sales.
- UBS analyst Michael Lasser said low-income consumers are pressured by elevated gas prices.
- Advance Auto Parts tumbled about 17% after comparable store sales unexpectedly fell.
- Deere rose more than 3% on better-than-expected profit, revenue, and raised forecast.
- Initial jobless claims fell by 6,000 to 206,000.
Ideas
Walmart pressured by weak same-store sales.
Walmart shares are sliding more than 8% because investors are focused on a smaller-than-expected increase in same-store sales, even though quarterly revenue beat forecasts and the company raised its full-year earnings outlook.
Advance Auto pressured by weak comps.
Advance Auto Parts is tumbling about 17% because comparable store sales unexpectedly fell, despite earnings beating analyst estimates.
Deere up on strong results, guidance.
Deere shares are rising more than 3% after the company reported better-than-expected profit and revenue for the latest quarter and raised its forecast.
Up Next
This CNBC video, published August 20, 2026, features Peter Schacknow discussing WMT, AAP, DE. 3 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Peter Schacknow · Tickers: WMT, AAP, DE