NEW YORK (AP) — U.S. stock indexes are losing ground Thursday as Walmart drags Wall Street down and hopes dim for cuts to interest rates.

The S&P 500 fell 0.4% and was on track for a fifth straight modest loss since setting an all-time high last week. The Dow Jones Industrial Average was down 137 points, or 0.3%, as of 2:41 p.m. Eastern time, and the Nasdaq composite was 0.4% lower.

Walmart was one of the market’s heaviest weights and fell 5.1% after reporting a profit for the spring that came up short of analysts’ expectations, while Nvidia and other Big Tech stocks held a bit steadier following two days of sharp swings.

The moves were stronger in the bond market, where Treasury yields rose after a report forced Wall Street to scale back hopes that the Federal Reserve may soon deliver

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