Daily Market Report – January 8, 2026

Market Activity – Thursday, January 8, 2026 (Intraday)

Once again, Trump is moving the markets: The US President has suggested that the US military budget should rise from $901 billion in 2026 to $1.5 trillion in 2027. He also called for stricter conditions regarding dividends/buybacks in the US defense sector. Defense stocks on both sides of the Atlantic saw significant gains, driven by the new statements from Washington.

BAE Systems Plc BA rose by about +6% in London, Lockheed Martin LMT +7%, and Northrop Grumman NOC +3% surged strongly in the US. Whether the high gains in the defense sector can be maintained throughout the day is uncertain, as Trump's interference in the companies' business policies raises doubts, and the announced level of the defense budget is unrealistically high. However, even outside the defense sector, there were stocks today that saw significant increases. Among the global top 100 heavyweights, Costco Wholesale COST was over 5% higher than the previous day due to better-than-expected sales figures for December.

Nvidia, Apple, Microsoft, and other tech stocks are declining today (Nasdaq 100 weaker).

Macro Focus: Attention turns to US Non-Farm Payrolls on Friday; risk appetite remains subdued. (ET 11:00)