Nasdaq Snaps Win Streak as Tech Takes Heavy Hit

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.

Continue reading for more on today's market, including:

• Beer stock jumps after fiscal third-quarter beat.
• A rebound could be looming for Cleveland-Cliffs stock.
• Plus, analyst praises utility name; blue chip to watch; and two defense giants rallying.

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.