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Intraday Update: Dow Spikes 200 Points as NATO Approves More Military Spending

Major benchmark indexes are trying to stage a comeback as China's less-aggressive response to the latest tariffs give investors hope that a reconciliation between the two nations is still possible. In today's Intraday Update, we... •...note that Wednesday's selling "did not get emotional";•...consider what could happen in an all-out trade-war scenario; •...gasp as defense stocks spike on reports that NATO has agreed to U.S. demands for increased military spending.  The Dow's slow rise turned to surge as defense stocks climbed sky-high, while the S&P 500 has climbed 0.7% to 2794.57. The turnaround was not surprising given Wednesday's selling "did not get emotional," wrote Frank Cappelleri, an Instinet technical analyst.