The major averages closed mixed with the Dow Jones Industrial Average rising 270 points. The S&P 500 inched up 53 cents while the Nasdaq fell 104 points.

Defense stocks were a bright spot of the day, as key names rallied after President Donald Trump called for a $1.5 trillion defense budget in 2027, a massive increase from the $901 billion approved by Congress for 2026. Lockheed rose 4%, Northrop Grumman rose 2% while Raytheon and General Dynamic rose a percent.

Tech was lower today, spinning its wheels here in 2026. Healthcare pulled back after a nice run so far this year. Oil prices rebounded Thursday, with oil and brent crude up 4% as tensions ramp up in Russia, Iraq and Iran. Exxon and Chevron were up over 2%.

U.S. Treasury yields were higher on Thursday as investors looked ahead to key jobs data and continued to monitor geopolitical developments. The 10-year Treasury yield rose 4 basis points to 4.18%. The 2-year Treasury note rose 2 basis points to 3.49%. The 30-year bond yield rose 4 basis points to 4.85%.

In the commodity space, oil was higher. Gold rose half a percent. Silver was down a percent. Crypto currencies were quiet.

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