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January 9, 2026

Most of Wall Street drifts as defense companies rally

By STAN CHOE
AP Business Writer

NEW YORK — Modest moves for Wall Street overall masked some big swings underneath the surface on Thursday, including for makers of weapons and other military equipment after President Donald Trump said he wants to increase spending on them sharply.

The S&P 500 barely budged and inched up by less than 0.1%, coming off its first loss in four days. It remains near its all-time high set earlier this week. The Dow Jones Industrial Average rose 270 points, or 0.6%, and the Nasdaq composite fell 0.4%.


 
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