Stock Market Today, Jan. 8: Defense Stocks Rally and Tech Retreats

Group 1 - Defense stocks rallied following President Trump's announcement of a $1.5 trillion defense budget for 2027, increasing investor interest in major contractors [3][2] - Northrop Grumman advanced by 2.43% due to the defense budget push and a new $94 million U.S. Navy contract, while Lockheed Martin and RTX also saw gains [2] - The Dow Jones Industrial Average gained 0.55% as defense and staples outperformed other sectors, contrasting with the S&P 500 and Nasdaq's performance [1][3] Group 2 - The Nasdaq Composite declined by 0.44% amid a cautious mood affecting tech stocks, with Goldman Sachs warning of fading growth tailwinds [4] - Alphabet surpassed Apple in market capitalization, becoming the second-most-valuable company globally, while Nvidia and Meta experienced declines [5] - Micron and Sandisk saw significant pullbacks despite recent gains, with Micron gaining around 15% and Sandisk approximately 40% over the past five days [5]