Defense stocks rebound. Lockheed Martin (LMT) is up 4% Trump said the military budget should rise to $1.5 trillion in 2027, a roughly 50% increase from current levels, arguing the move would support national security in a more dangerous global environment. The comments helped spark a sharp rebound in defense shares on Thursday, reversing losses from the prior session.

The financials and Jefferies Financial (JEF) lower. Jefferies fell 5% on disappointing earnings even as sales beat estimates. Jefferies had to take a $30 million loss for First brands investment.

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