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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 strengthened 270.03 points to 49,266.11.
The S&P 500 index nicked ahead 0.52 points to 6,921.45
The NASDAQ moved positive 21.1 points to 23,480.02.
Artificial intelligence darling Nvidia was among the names investors exited, trading down more than 2%. Fellow AI play Oracle pulled back more than 1%. Shares of iPhone maker Apple were also down, 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 about 3%, and Lockheed Martin gained around 4%. Kratos Defense popped more than 14%.
Prices for the 10-year Treasury sagged, pointing yields up to 4.18% from Wednesday’s 4.14%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.61 to $57.14 U.S. a barrel.
Gold prices added $21.10 to $4,483.60.
