5 things to know before the stock market opens on Thursday

of 30 years US Treasury Yields plunged more than 10 basis points yesterday after the Treasury announced it would take the unprecedented step of at least doubling the size of its bond buybacks.

Here’s what you need to know:

As CNBC’s Steve Reisman and Matt Peterson write, the Treasury Department’s efforts to appease bond traders could lead to higher inflation, which would be bad news for the Federal Reserve. The Fed has already said in minutes from its last meeting released yesterday that its members feel it may be necessary to raise rates if inflation shows no signs of cooling. President Donald Trump continued to criticize the central bank yesterday, saying that Chairman Kevin Warsh is “doing a great job” but that “the problem is he has a board of directors, and it’s a political board.” Asked if Americans should be worried about the bond market, President Trump said, “No, I don’t think so.” Meanwhile, the Treasury announced yesterday that the US debt level has surpassed the $40 trillion mark. This is more than double what it was 10 years ago. Bond yields are rising again this morning, while stock futures are falling before the bell. Follow live market updates here.

walmart This morning, the company beat analysts’ quarterly sales estimates and raised its full-year forecast. However, it seems that investors were not satisfied with this. The retailer’s stock fell 6% before the bell.

Global e-commerce sales rose 23%, along with billions of dollars in tariff refunds, boosting retailers’ second-quarter results. CFO John David Rainey told CNBC that the company is less than $100 million away from receiving $2.9 billion in tariff refunds. He said Walmart plans to use the repayments to lower prices.

Hear more from Laney on CNBC’s “Squawk on the Street” at 10 a.m. ET. Watch live on CNBC or CNBC+.

OpenAI will be brought to the general market soon. CFO Sarah Friar told employees yesterday that the artificial intelligence startup could go public as early as next year.

As CNBC’s Kate Rooney and Ashley Caputo report, Friar told the all-hands conference that OpenAI “will be a public company in 2027.” He said the debut could come sooner “if our business continues to change.”

At the meeting, Mr. Frier referred to the IPO as “new financing” rather than “the finish line,” according to two people familiar with the remarks. He said OpenAI’s $122 billion funding round in March provided “flexibility” for the company, which filed an IPO prospectus in June.

Bad news for California truck drivers. Diesel prices in the Golden State hit $7 a gallon again. The increase was 37% compared to the same period last year, as oil supplies are disrupted by the Iran war.

Diesel prices remain below the record set in April. But as CNBC’s Spencer Kimball points out, costs are rising again as farmers prepare for harvest and freight traffic increases for the all-important holiday season.

Oil prices are rising this morning after President Trump said last night that the United States would launch an “economic war” against Iran. Crude oil prices are on a positive trajectory for the second consecutive week.

The AI ​​boom is both good news and bad news. micron’s Hometown of Boise, Idaho.

As CNBC’s CJ Haddad and Katie Tarasoff report, the computer memory maker’s investment is leading to job growth, population growth and new construction projects in the city. The more than 10-fold increase in Micron’s stock price since the end of 2024 has also created a new class of billionaires in the region.

But as the company embarks on a $50 billion construction program, increased traffic and soaring home prices also threaten to squeeze affordability for low-income residents.

moderna‘s stock ended yesterday’s trading up almost 180% following cancer vaccination. Merck It showed promise in the late trial. This is what the climb looks like.

— CNBC’s Kai Nicole-Schwartz, Jeff Cox, Steve Reisman, Matt Peterson, Sean Conlon, Fred Imbert, Raya Neelakandan, Ashley Caputo, Kate Rooney, Spencer Kimball, Hugh Leask, Anique Bao, Chloe Taylor, CJ Haddad, Katie Tarasoff and Annika Kim Constantino contributed to this report.

Josephine Rozzelle edited this version.