The S&P 500 finished almost flat, the Nasdaq Composite declined on tech weakness, and the Dow Jones Industrial Average gained as defense and staples outperformed. Northrop Grumman advanced on Trump’s defense-budget push, while profit-taking weighed on AI-linked chip and software names like Micron and Zscaler. Defense stocks rallied after Trump’s $1.5 trillion defense budget announcement, boosting major contractors. The Nasdaq dropped due to cautious mood in tech stocks, while Alphabet overtook Apple in market cap. Micron and Sandisk pulled back, but both have gained significantly in the past five days.

Read more at Nasdaq, Inc.: Stock Market Today, Jan. 8: Defense Stocks Rally and Tech Retreats