New York, Jan 15, 2026, 07:23 EST — Premarket
- Shares of Shopify fell 5.9% on Wednesday amid a broader pullback in tech stocks.
- Wayfair announced plans to adopt Google’s Universal Commerce Protocol, which was co-developed with Shopify, to enable checkout within AI search and chat.
- At 8:30 a.m. ET, traders await U.S. jobless claims data alongside more major bank earnings, seeking clues on risk appetite.
Shares of Shopify Inc (SHOP) fell 5.9% to close at $157.51 on Wednesday amid a wider tech selloff. The stock remained active in premarket trading Thursday as more retailers endorsed a new AI shopping standard. Wayfair announced it will use Google’s Universal Commerce Protocol, describing it as “the common language for this new ecosystem.” 1
The pitch is crucial as “agentic commerce” — where AI assistants handle tasks like assembling a cart and finishing payment — shifts from demos to early launches. Shopify president Harley Finkelstein told Vogue, “We’ve never done something like this before, but this feels like the right time for us to welcome non-Shopify merchants in,” as the company rolled out access to its infrastructure via what it calls an Agentic plan. 2
Google has rolled out an initial draft of UCP as an open standard—a public framework enabling different software systems to communicate without a single company controlling the infrastructure. “Retailers are keen to start experimenting with agentic commerce,” said retail technology consultant Miya Knights. At the same time, Info-Tech Research Group principal research director Julie Geller pointed to “a major shift in posture” for retail security teams, as checkout capabilities become accessible via new web interfaces. 3
Google announced the protocol will “soon” let shoppers using its AI Mode in search or the Gemini app make direct purchases from retailers. Early payments will go through Google Pay, with PayPal integration planned later. “In the coming months, we’ll work with retailers to expand globally,” said Google’s Vidhya Srinivasan — though some merchants are already wary. Gr4vy CEO John Lunn described some of the new protocols as “pretty underbaked.” 4
Shopify’s decline dragged down Canada’s tech sector on Wednesday, Reuters reported, despite the Toronto market hitting yet another record high. 5
How much spotlight SHOP attracts at the open could hinge on broader market moves. U.S. stock index futures inched up Thursday, buoyed by Taiwan Semiconductor’s strong earnings that boosted chip stocks. Investors are also eyeing upcoming reports from BlackRock, Goldman Sachs, and Morgan Stanley. 6
Retailers are keen to remain the “merchant of record”—the entity that handles the sale, payment, refunds, and customer service—even when the transaction takes place within an AI interface owned by another company.
Here’s the catch. If AI platforms dominate discovery, but payment options and data-sharing policies differ across ecosystems, merchants might hold back on driving significant volume through these new checkout systems—at least until they get a clear read on returns, fraud, and customer support in real-world use.
Shopify investors are keeping an eye on whether more big retailers jump on board, along with how discounts, loyalty programs, and subscriptions perform once checkout is integrated into AI chat. The real test comes with the holiday-quarter earnings report, where management must clarify what impact, if any, these moves have on growth.
Thursday’s 8:30 a.m. ET jobless claims report and a batch of financial-sector earnings before the open could steer risk appetite in the short term. For Shopify, the key factor remains the pace of Google’s in-chat checkout rollout and if UCP adoption picks up beyond the initial group of companies.
