Stock Market Today, Jan. 12: Walmart Jumps on Nasdaq 100 Inclusion

Walmart (NASDAQ:WMT), the global omnichannel retailer, closed Monday at $117.97, up 3.00% as investors responded to its pending Nasdaq-100 inclusion and new partnerships. Walmart IPO'd in 1972 and has grown 549,006% since going public. Trading volume reached 47.4 million shares, about 143% above its three-month average of 19.5 million. Monday’s action centered on Walmart’s Nasdaq-100 “countdown” and reports highlighting its Google Gemini integration.

How the markets moved today

The S&P 500 added 0.15% to finish at 6,977, while the Nasdaq Composite gained 0.26% to close at 23,734. Within discount stores, industry peers Costco Wholesale and Target rose 1.97% and 0.61%, respectively, as defensive retailers benefited from renewed interest in large, resilient consumer names.

What this means for investors

A couple of weeks after switching from being listed on the New York Stock Exchange to the Nasdaq, the mega-retailer joined the Nasdaq-100. Though being added to the Nasdaq-100 doesn't change anything about its operations, the inclusion is somewhat symbolic as it highlights Walmart's shifting ambitions towards becoming an AI- and technology-focused behemoth, as opposed to just a retailer.

Speaking of this new era, Walmart agreed to a partnership with Alphabet on Saturday to use the latter's Gemini AI chatbot as a shopping assistant and purchasing platform. It also agreed to another partnership with Wing (an Alphabet subsidiary) to ramp up its drone delivery capabilities. Making deals like these just days after switching to the tech-heavy exchange is perfect timing, as it illustrates Walmart's long-term, tech-focused ambitions.

Josh Kohn-Lindquist has positions in Costco Wholesale. The Motley Fool has positions in and recommends Costco Wholesale, Target, and Walmart. The Motley Fool has a disclosure policy.