Finance

Walmart stock suffered its sharpest single-session drop in four years, declining around 8% to 9% despite exceeding Wall Street estimates on its top and bottom lines for the quarter. Investors reacted negatively to a combination of disappointing guidance for the third quarter and lower-than-anticipated domestic same-store sales growth. The retail giant trimmed prices across multiple core merchandise categories to appeal to cost-conscious consumers, which highlights decelerating momentum in broader consumer retail spending.

Deere & Co. emerged as the best-performing company within the S&P 500 index, jumping over 7% following a better-than-expected quarterly earnings report. The outperformance was primarily driven by solid operational execution in its construction and forestry division. Additionally, management expressed optimism about forward-looking order trends, suggesting a potential acceleration in the agricultural equipment business heading into the next fiscal year.

Bitcoin climbed back above the $71,000 threshold for the first time since early June, sparking a broad rally across major altcoins and digital assets. This resurgence follows a white-collar meeting where President Donald Trump met with major crypto executives and urged Congress to quickly pass the stalled Clarity Act regulatory framework. The upward momentum sparked a historic short-squeeze event, liquidating over $3 billion in leveraged bearish positions within a 24-hour window.