The Dow Jones Industrial Average rose on Thursday, while the NASDAQ Composite came under pressure as investors moved away from technology stocks.
The 30-stock index recovered 308.93 points to 49,305.01.
The S&P 500 index nicked ahead 1.47 points to 6,922.40
The NASDAQ demurred 132.53 points to 23,451.75.
Artificial intelligence darling Nvidia was among the names investors exited, trading down more than 2%. Fellow AI play Oracle pulled back by nearly 2%, while iPhone maker Apple dropped more than 1%, on pace for its seventh day of losses.
Defense stocks were a bright spot of the day, as key names rallied after President Donald Trump called for a $1.5-trillion defense budget in 2027 — a massive increase from the $901 billion approved by Congress for 2026. Northrop Grumman jumped more than 3%, and Lockheed Martin gained around 5%. Additionally, RTX advanced more than 1%, and Kratos Defense popped 18%.
Prices for the 10-year Treasury sagged, pointing yields up to 4.17% from Wednesday’s 4.14%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.15 to $57.14 U.S. a barrel.
Gold prices resurfaced $6.70 to $4,469.20.
