Wall Street ends mixed as tech dips, defense stocks
rally
By Purvi Agarwal and Noel
Randewich
Thu January 8,
2026 7:10 PM
The Dow headed
straight up, the Nasdaq straight down as industrials reacted to a proposed
strongly beefed up defense budget and tech, though AI is still hot, still haunted
by valuation fears. Trump is proposing hiking the defense budget by at least
50% sending defense stocks way up. New unemployment claims rose modestly and
the overall labor demand remains sluggish. All eyes are on tomorrow’s nonfarm
payrolls for more hints on Fed rate policy for the coming year. Volume was
heavy at 16.9 billion, passing the 16.3 average.
DJ: 48,996.08 -466.00 NAS: 23,584.28
+37.10 S&P: 6,920.93
-23.89 1/7
DJ: 49,266.11 +270.03 NAS: 23,480.02
-104.26 S&P: 6,921.45 +0.53 1/8
Thu 1-8-26 7:10 pm Wall Street ends mixed as tech dips, defense stocks rally | Reuters