Market Summary - January 8, 2026

Key Highlights

• Defense stocks surged up to 5% following President Trump's proposal for a $1.5 trillion military budget for 2027.
• The energy sector led the S&P 500 with a gain of 2.54%, while technology stocks lagged, dropping 1.80% due to profit-taking in data storage stocks.
• Alphabet Inc. reached an all-time high after an upgrade from Cantor Fitzgerald and the announcement of new AI features in Gmail.

Market Performance

As of 18:00 GMT, major U.S. stock indexes were trading mixed:

• Dow Jones Industrial Average: 49,330.03 (+0.68%)
• S&P 500 Index: 6,925.90 (+0.07%)
• Nasdaq Composite: 23,473.575 (-0.47%)

Sector Analysis

Out of the 11 sectors in the S&P 500 Index, nine were trading higher:

• Energy: +2.54%
• Consumer Staples: +2.23%
• Consumer Discretionary: +1.77%
• Healthcare: -0.40%
• Technology: -1.80%

Notable Stock Movements

Several stocks made significant moves during the session:

• Alphabet Inc.: Hit an all-time high after an upgrade and new AI features announcement.
• Data Storage Stocks: Western Digital and SanDisk fell over 9%, while Seagate Technology dropped 8% due to profit-taking.
• Applied Digital: Shares rose nearly 12% after reporting earnings and revenue beats.
• Defense Stocks: Lockheed Martin (+4%), L3Harris Technologies (+5%), and Northrop Grumman (+3%) benefited from the military budget proposal.
• Bloom Energy: Increased over 13% after a major purchase agreement.
• Constellation Brands: Gained nearly 2% following positive third-quarter results.

Market Outlook

Despite the mixed performance, the S&P 500 continues to hold its uptrend. Key support levels are identified at:

• Uptrend line: 6,907.50
• 50-day moving average: 6,885.25
• Main swing bottom: 6,866.75

Resistance levels are noted between 7,006.75 and 7,014.00.

Conclusion

As the market navigates through the early days of 2026, investors are assessing which sectors will take the lead, with energy and healthcare showing early strength amidst a backdrop of mixed performance across major indices.