U.S. stock futures fell on Thursday morning after the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) retreated from record highs to close in the red. Futures on the Nasdaq 100 (NDX), the S&P 500, and the Dow Jones Industrial Average were down 0.15%, 0.11%, and 0.35%, respectively, at 8:50 a.m. EST on January 8.
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During Wednesday’s regular trading, the three major averages closed mixed, with the S&P 500 declining by 0.34% and the DJIA falling 466 points, or nearly 0.94%. Meanwhile, the Nasdaq Composite rose 0.16%, boosted by a 2.4% surge in Alphabet (GOOGL) shares. This briefly pushed the company’s market value past Apple’s (AAPL) for the first time since 2019.
Turning to trending stocks, shares of defense companies jumped after President Donald Trump suggested a defense budget of $1.5 trillion for 2027 in a Truth Social post to build a “Dream Military.” Shares of Lockheed Martin (LMT), L3Harris Technologies (LHX), Northrop Grumman (NOC), General Dynamics (GD), and RTX (RTX) gained 8%, 7.3%, 8.3%, 6.1%, and about 3%, respectively.
Also, Applied Digital (APLD) stock was up 6% in Thursday’s pre-market trading after reporting upbeat fiscal second-quarter results.
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