Wall Street worked through a packed session defined by an earnings miss from Walmart, surging artificial intelligence spending at Alibaba, a crypto rally that lifted Coinbase, a fifth straight gain for oil prices, and a strong profit outlook from Deere.

Here is a breakdown of the five biggest stock stories investors are watching today.

Walmart Misses Sales Expectations

Walmart reported U.S. comparable sales growth of 2.6%, falling short of the 3.8% increase Wall Street had expected. The shortfall was a rare miss for a retailer that has consistently beaten forecasts in recent years.

The company modestly raised its full-year outlook, but that did little to calm investor concern. Weaker discretionary spending and signs of a more cautious consumer were the main worries behind the reaction.

Walmart is viewed as one of the clearest gauges of U.S. consumer health — it is the country's largest retailer by revenue, and consumer spending accounts for roughly two-thirds of U.S. economic activity — so a miss here carries weight beyond the company itself. Earnings from other major retailers, including Target and Home Depot, typically arrive in the same window and will offer a further read on the consumer.

Alibaba Cuts Profit to Fund AI Push

Alibaba's net profit fell around 75% in its latest quarter as the company dramatically increased spending on artificial intelligence. Capital expenditure jumped roughly 75% as the firm invested in data centers, advanced chips, and cloud infrastructure.

Cloud and AI-related revenue did continue to grow over the period. Still, the scale of the spending is raising questions about how long it will take for those investments to pay off.

The step-up mirrors a broader capex surge across the industry: Microsoft, Alphabet, Amazon, and Meta have all raised capital budgets for AI data centers, while Chinese peers such as Tencent and Baidu have also flagged higher AI investment. Alibaba appears willing to absorb short-term profit pressure in order to compete in that global AI race.

Coinbase Climbs With Bitcoin

Coinbase moved higher as Bitcoin pushed back above $70,000. The exchange rallied alongside other crypto-related stocks, including Strategy and several Bitcoin miners.

The move was supported by easing concerns around bond market liquidity and growing optimism about potential U.S. crypto legislation, where discussions in Washington have centered on stablecoin rules and broader market-structure frameworks that would set clearer operating guidelines for exchanges and issuers.

Higher Bitcoin prices tend to lift retail interest and trading volumes, which directly benefits exchange revenue. Crypto stocks remain sensitive to both regulatory news and broader market conditions.

Oil Rises for Fifth Straight Day

Brent crude advanced for a fifth consecutive session as tensions around Iran and the Strait of Hormuz kept supply concerns elevated. U.S.-Iran negotiations showed little sign of progress.

The Strait of Hormuz is one of the world's most important oil chokepoints, with roughly a fifth of global oil trade passing through it, which is why shipping risks there move prices so quickly.

Rising oil prices benefit energy producers, but they also push up fuel and transportation costs, which can add to inflation. That matters at a time when investors are already debating how long the Federal Reserve will keep interest rates high.

If crude keeps climbing, oil could become a growing risk for equity markets.

Deere Raises Outlook After Strong Quarter

Deere raised the lower end of its 2026 profit forecast after reporting its first quarterly profit increase in three years. Construction and forestry sales rose around 18%, partly driven by infrastructure spending tied to AI data center expansion, which has become one of the strongest pockets of nonresidential construction spending.

The result marks a turn after a multiyear downturn in farm equipment demand tied to low crop prices, and it highlights how AI spending is filtering through the broader economy, reaching equipment manufacturers well beyond the tech sector.

Deere's update drew one of the stronger earnings reactions of the day.