Pre-Market Briefing for August 21, 2026
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Previous Session Recap
All three major indexes fell on the New York market on the 20th. The Dow lost 1.32% to close at 52,759.21, the Nasdaq dropped 1.00%, and the S&P 500 declined 0.87%, while the volatility index jumped 7.45% to 16. Walmart dragged the market down with a 9.15% plunge after its earnings release, with healthcare falling 1.87% and consumer discretionary dropping 1.61%, while only energy and real estate posted modest gains.
Current Market Tone
Futures gains are limited. Dow and S&P 500 futures are up 0.2%, and Nasdaq 100 futures are up 0.4%, not enough to recoup the prior day's losses. The backdrop lies in bonds. Even though the Treasury more than doubled its long-term bond repurchase size, the 30-year yield rebounded by more than 7 basis points in a single day and stayed around 5.2%. Adding to inflationary pressure, Brent crude approached $92 a barrel on Iran sanctions. In an environment where rates and oil prices are both elevated, risk appetite has little room to recover. The biggest variable today is whether long-term yields settle back down again.
Pre-Market News Roundup
Today's Events
Ex-Dividend
Stocks in Focus
Walmart's relative strength index (RSI, an indicator that expresses overbought and oversold conditions on a scale of 0 to 100) has fallen to 29.8, entering oversold territory, and it has also broken below the lower Bollinger Band. Coming off a 9.15% single-day drop to $103.84, both a technical bounce and a trend breakdown are possible, so today's volume will determine its character.
ExxonMobil is on the opposite side. With oil prices rising on Iran sanctions, its RSI has climbed to 70.8, entering overbought territory, and the stock is trading at $166.15. Even with the supportive backdrop, the indicators suggest a spot to take a breather.
Merck is sitting at an RSI of 75.4 and has punched through the upper Bollinger Band. After spiking on the news of a successful Phase 3 trial for its personalized cancer vaccine co-developed with Moderna, it pulled back 2.11% on the 20th to close at $148.99.
Today's Action Guide
Stay composed today. Have a great day.
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