Carvana shares declined Thursday as broader equity weakness and profit-taking weighed on the stock after its earlier-week rally. The Nasdaq fell 0.12%, the S&P 500 slipped 0.19%, and the Consumer Discretionary sector dropped 0.4%. Pressure on equities increased as U.S. bonds resumed selling, with the 10-year Treasury yield rising for a fourth consecutive session to 5.33%, its highest level since early 2002, as investors continued to expect the Federal Reserve to raise interest rates further to curb inflation and strong economic growth. Consumer Discretionary has fallen 5.38% over the past 30 days and 8.12% over the past 90 days. Carvana had earlier gained alongside CarMax after CarMax reported better-than-expected second-quarter results. Oppenheimer retained its Outperform rating on Carvana and lowered its price forecast to $90 to reflect a 5-for-1 stock split. Technically, the stock remained below its 20-day and 200-day simple moving averages (average closing prices over set periods), while a March Death Cross (a bearish moving-average crossover) continued to weigh on the longer-term trend. Shares were down 1.30% at $61.73 at publication, according to Benzinga Pro data.