Walmart Misses Sales Targets Amid Cautious Consumer Spending

Walmart's U.S. sales growth fell short of expectations at 2.6%, indicating cautious consumer spending in the country. The retail giant's lackluster performance was reported alongside other market news, including a significant decline in Alibaba's net earnings.

The Chinese e-commerce company saw its net earnings plunge by 75% due to heavy investments in artificial intelligence (AI). This development has raised questions about the return timelines for these investments and their impact on Alibaba's bottom line.

However, not all news was bearish. Coinbase shares rose as Bitcoin surpassed $70,000, driven by positive regulatory outlooks. Additionally, crude oil prices extended gains amid Iran tensions, which is expected to have an impact on inflation concerns.

In a contrasting trend, Deere raised its earnings forecast after strong sales linked to AI-driven infrastructure projects. This highlights the growing importance of AI in driving economic growth and investment opportunities.