Equity Alert
S&P, Dow Jones end higher Thu, defence stocks rise
This story was originally published at 08:03 IST on 9 January 2026
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Equity Alert: S&P, Dow Jones end higher Thu, defence stocks rise
MUMBAI--0750 IST--Most benchmark equity indices in the US ended higher on Thursday, barring the tech-laden Nasdaq Composite. Shares of information technology companies fell while those of defence companies rose during the session.
Shares of artificial intelligence company NVIDIA Corp. fell more than 2% during the session, and shares of Oracle were down nearly 2% as well. Shares of Apple Inc. recorded losses for seven sessions, according to a report by CNBC. Shares of Apple fell 0.5% during the session. Defence stocks rose after US President Donald Trump proposed a defence budget of $1.5 trillion for 2027, a substantial increase from the budget of $901 billion approved by Congress for 2026, CNBC said. Shares of Northrop Grumman gained over 2% and those of Lockheed Martin rose over 4%. Shares of Kratos Defense & Security Solutions jumped nearly 14% and those of RTX Corp. rose nearly 1%, according to CNBC.
Technology and AI stocks will remain an important theme in 2026, with the status of trade to remain a key upside driver, which will be dependent on whether use cases start to rise and the sectors in which they do, Rob Haworth, senior investment strategy director at US Bank Asset Management said, according to CNBC. "We're seeing early signs of that in health care," he said. "When we think about robotics, insurance, diagnostics, all these types of companies are going to be early beneficiaries. That's where we think the growth story is," Haworth was quoted as saying by CNBC.
Worker productivity grew at its fastest pace in two years in the December quarter, according to data from the Labour Department, Reuters said in a report. The number of people applying for unemployment benefits rose moderately due to a low number of layoffs even though demand for labour remained slow, Reuters said.
US data for employment in December will be key, Reuters said. Investors are pricing in two rate cuts in 2026 even though the US central bank indicated only one cut in 2026 in December. The Federal Reserve Bank is expected to keep rates steady at its meeting this month, according to Reuters.
Following are the closing levels of US indices Thursday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6921.46 |
0.01 |
|
NASDAQ Composite |
23480.016 |
(-)0.44 |
|
Dow Jones Industrial Average |
49266.11 |
0.55 |
(Akshat Saksena)
US$1 = INR 90.02
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
All prices from National Stock Exchange, unless otherwise specified.
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