New York, Feb 6, 2026, 11:30 (EST) — Regular session
- Walmart shares climbed roughly 2.3% to hover around $130 in late-morning action
- Investors shifting away from tech have driven gains in consumer staples and major retail stocks
- Walmart’s Feb. 19 earnings report will shed light on demand trends and margin pressures investors are watching closely
Walmart Inc. (WMT.O) shares climbed roughly 2.3% on Friday, pushing the stock to $129.92 by late morning. This gain continued the retailer’s streak, keeping it close to the summit of the U.S. market’s big-cap ranks.
The gain is significant as investors pull back from riskier tech stocks, favoring so-called defensive names—firms seen as more stable when growth concerns rise and markets get unsettled. Kristina Hooper, chief market strategist at Man Group, described it as “a period of greater discernment,” with attention shifting from AI hype to the expenses involved in developing it. 1
The shift intensified after Amazon.com shares dropped roughly 9%, spooked by its announced $200 billion capital budget for 2026. This move underscored how rapidly AI spending plans can weigh on valuations. “The magnitude of the spend is materially greater than consensus expected,” noted MoffettNathanson analysts. 2
A note from Goldman Sachs to clients highlighted that hedge funds took a hit amid a tech-driven selloff this week, with money shifting into defensive names like Walmart as investors reexamined crowded positions. 3
Walmart’s bid has gained steam alongside the stock’s recent surge. The retailer briefly crossed the $1 trillion market cap mark earlier this week—a first for the company—as investors noted its push into faster delivery, an expanded online marketplace, and rising advertising revenue, Reuters reported. “We think of trillion-dollar market caps as being a tech-stock phenomenon, but Walmart is a gritty old-economy company,” said Charles Sizemore, a Walmart investor. 4
U.S. consumer health remains uncertain after fresh data on Friday. The University of Michigan’s Consumer Sentiment Index inched up to 57.3 for early February, but Joanne Hsu, the survey’s director, noted that “the overall level of sentiment remains very low,” pointing to worries over high prices and job security. 5
Executive Vice President Donna Morris offloaded 76,181 shares at $123.79 each on Feb. 3, according to a filing. The sale was made under a Rule 10b5-1 plan—a pre-set trading arrangement designed to avoid suspicion of insider trading. 6
Amazon slipped roughly 8% in late-morning trading. Costco Wholesale edged up around 0.6%, and Target climbed about 3.3%.
That trade could flip quickly. Should the tech selloff ease and funds flow back into growth, the defensive support boosting Walmart might weaken. At the same time, the retailer faces rising expectations tied to its stock price.
Walmart’s next big reveal is set for Feb. 19, with its fiscal 2026 fourth-quarter earnings dropping at 7:00 a.m. U.S. Central time. Traders will be zeroed in on any news about customer demand, pricing strategies, and profit margins. 7
