Traders rotated out of tech this afternoon, pressuring the Nasdaq into the red to snap a three-day win streak. The Dow managed to recover from its early pullback to log a 270-point gain, as defense stocks continued to revel in President Donald Trump's plans to increase the U.S. military budget to $1.5 trillion in 2027. Meanwhile, the S&P 500 inched higher, as Wall Street mostly overlooked an onslaught of economic data, including a weekly jobs report that came in just shy of expectations.

CRUDE REBOUNDS DESPITE LINGERING CONCERNS

Crude bounced back on Thursday, with Venezuelan buzz set aside despite Russia, Iraq, and Iran supply concerns. February-dated West Texas Intermediate (WTI) crude added 3.2%, or $1.77, to close at $57.76 a barrel. 

Gold prices remained steady as investors eyed tomorrow's U.S. nonfarm payrolls report. February-dated gold futures settled just below breakeven at $4,460.70 per ounce. 

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