Market Open: Stocks Rebound, Discount Retailers Rise, Equity Funds Still Popular 8-21-2026
Speakers
Jason Pride
— Chief of Investment Strategy and Research, Glenmede
Peter Schacknow
— Anchor, CNBC Business News Update
Summary
CNBC Business News Update with Peter Schacknow covers a morning rebound after the market's worst August day, with the Dow, S&P 500 and Nasdaq higher. Jason Pride discusses Treasury-Fed interplay and the Treasury's longer-term debt buybacks. Ross Stores and BJ's Wholesale rise on strong earnings, and equity funds post their largest weekly inflow since late July.
- Stocks rebounded in morning trading but remained on pace for a losing week.
- Prior weakness was driven by higher oil prices, Walmart's softer sales, and rising Treasury yields.
- Jason Pride says the Fed is handing off duration positioning to the Treasury, which is increasing longer-term debt buybacks.
- Ross Stores gained about 7% after beating quarterly profit and revenue estimates and raising full-year earnings guidance.
- BJ's Wholesale rose about 2% after similar warehouse-retail earnings strength.
- Equity funds took in $11.7 billion for the week ending Wednesday, the largest inflow since late July.
Ideas
Treasury buybacks support long-term Treasury bonds.
The Treasury is increasing buybacks of longer-term debt, and with the Fed handing off duration positioning to the Treasury, Secretary Bessent is signaling he will buy 30-year paper at 5.2%-plus yields; this Treasury buying supports longer-term Treasuries.
Up Next
This CNBC video, published August 21, 2026, features Jason Pride discussing TLT. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Jason Pride · Tickers: TLT