Summary4 min read

WSJ Your Money Briefing – What’s News in Markets: Defense Stocks Rise, Beer Beats, Pharma Deal

Date: January 10, 2026
Host: Francesca Fontana (Wall Street Journal)

Overview

This episode delivers a concise roundup of the week’s most significant stock market movers and the news that shaped them. Francesca Fontana breaks down why defense stocks are surging, how a major beer company surprised Wall Street, and the impact of a billion-dollar pharmaceutical acquisition. The analysis centers on tangible market trends and offers quick, insight-rich commentary for investors, business watchers, and anyone interested in how news events translate to market movement.

Key Discussion Points & Insights

1. Geopolitical Uncertainty Drives Oil Market and Stocks

[00:30–01:20]

The first trading week of 2026 was marked by geopolitical events, particularly U.S. involvement in Venezuela.
President Trump’s announcement to revive Venezuela’s oil industry and the administration’s long-term plans to control its energy sector led American oil majors, like Chevron, to outperform the market.
Market Impact:
- Chevron’s shares surged, closing up 5.1% on Monday and up 4% for the week.
Major Index Performance:
- Dow: up 2.3%
- S&P 500: up 1.6%
- Nasdaq: up 1.9%
Quote:
- “Traders had plenty to digest… namely the ripple effects of US Action in Venezuela.” – Francesca Fontana [00:36]

2. Defense Stocks Rally on Bigger Budget

[01:21–02:10]

President Trump’s call for a $1.5 trillion defense budget (over $500 billion above existing expectations) catalyzed a rally in U.S. defense companies.
Lockheed Martin and peers responded strongly; Lockheed Martin separately announced it would triple Patriot missile production following a seven-year Pentagon deal.
Stock Moves:
- Lockheed Martin: up 2% Tuesday; up 9.2% for the week.
Quote:
- “President Trump’s call for a bigger defense budget sparked a rally in Lockheed Martin and other US weapons makers.” – Francesca Fontana [01:33]
- “[He] wrote about it in a social media post late Wednesday.” – Francesca Fontana [01:41]

3. Constellation Brands (Corona) Trims Losses Despite Headwinds

[02:11–03:14]

The parent company of Corona beer, Constellation Brands, faced continued sales struggles, especially among Hispanic customers, weighed down by softening consumer sentiment and fewer physically demanding “4,000 calorie jobs” like construction.
Despite reporting lower sales and profits for the most recent quarter, results were not as bad as Wall Street feared.
Stock Moves:
- Shares closed up 5.3% Thursday; weekly gain of 4.1%.
Quote:
- “The results released…weren’t great, but they were better than Wall street was expecting.” – Francesca Fontana [02:57]
- “A downturn in 4,000 calorie jobs…typically boost beer sales.” – Francesca Fontana [03:01]

4. Eli Lilly’s Billion-Dollar Bet on Biotech

[03:15–04:12]

Eli Lilly agreed to acquire Ventix Biosciences for around $1 billion, aiming to expand in autoimmune (inflammatory response) treatments—a promising field adjacent to the weight-loss drug boom (Ozempic, etc.).
The deal could help Lilly compete with major players like Novo Nordisk.
Stock Moves:
- Ventix shares: up 37% Wednesday, 64% for the week.
Quote:
- “Ventix has been focused on developing drugs targeting inflammatory response. If its experimental pills pan out, they would add to Lilly’s portfolio…” – Francesca Fontana [03:45]
- “It could help Lilly compete against other big rivals, including Ozempic maker Novo Nordisk…” – Francesca Fontana [03:51]

5. Closing and Further Resources

[04:13–04:43]

Francesca Fontana advises listeners to read “The Score,” her WSJ Exchange section column, for more coverage on stocks that moved in the week.
Wrap-up acknowledges the production team and teases next week’s market news update.

Notable Quotes & Memorable Moments

“The first full trading week of the new year is in the bag, and it certainly wasn’t a boring one.” – Francesca Fontana [00:41]
“You can read about more stocks that moved on the week’s news in The Score, my column in the Wall Street Journal’s Exchange section.” – Francesca Fontana [04:24]

Timestamps for Important Segments

[00:30] – Start of market recap and geopolitical developments
[01:21] – Defense stocks and Lockheed Martin news
[02:11] – Constellation Brands’ earnings and market reaction
[03:15] – Eli Lilly’s pharma deal and biotech implications
[04:13] – Wrap-up and further reading suggestions

Tone & Language

Francesca Fontana delivers the market wrap with clarity and pace, using precise yet approachable language. The tone is informative, direct, and designed for listeners with varying levels of market knowledge.

Recommendation:
This sharp, facts-first recap is valuable for investors and market watchers. It’s packed with actionable insights and avoids hype, making it perfect for staying informed on key financial stories of the week.

Loading summary

Transcript5 lines

[00:01]
A
Hey, it's Ryan Knudson, host of the Journal Podcast, our show about money, business and power. If you're looking for more deeply reported stories like we share every day, consider becoming a subscriber to the Wall Street Journal. Visit subscribe.WSJ.com TheJournal all lowercase to subscribe now.
[00:19]
B
Hey listeners, your money briefing is on a break, but it will be back with more personal finance information for you in the future. Until then, here. Here's the news moving markets this week.
[00:31]
C
Hey listeners, it's Saturday, January 10th. I'm Francesca Fontana for the Wall Street Journal, and this is what's news in Markets, our look at the biggest stock moves of the week and the news that drove them. Let's get to it. The first full trading week of the new year is in the bag, and it certainly wasn't a boring one. Traders had plenty to digest and in the way of geopolitical uncertainty, namely the ripple effects of US Action in Venezuela. During the week, President Trump promised to revive the country's oil industry, and the Wall Street Journal reported on plans by the White House to dominate Venezuela's energy industry for years. And we saw how shares of American oil majors responded like Chevron, whose shares ended up jumping 5.1% Monday and gaining 4% for the week. And before we get to some other individual movers, let's see how the major indexes did. All three notched gains for the week, with the Dow rising 2.3%, the S&P 500 gaining 1.6%, and the Nasdaq increasing about 1.9%. Let's stay in Washington for a moment here as another sector was making moves on news coming from the Trump administration. Defense stocks. President Trump's call for a bigger defense budget sparked a rally in Lockheed Martin and other U.S. weapons makers. Trump called for a $1.5 trillion defense budget, more than 500 billion more than the Pentagon is expected to receive this fiscal year, and he wrote about it in a social media post late Wednesday. And earlier in the week, Lockheed Martin said it would more than triple Patriot missile production after reaching a seven year deal with the Pentagon. Lockheed shares ended up gaining about 2% Tuesday and notched a weekly gain of 9.2%. Next up, let's talk Constellation Brands. You may know the company better as the importer of Corona Beer. Dedicated listeners will recall that we've talked about this company's continued struggle with beer sales in recent quarters, and this latest quarter wasn't much different. Constellation reported lower sales and profit as customers, particularly Hispanic customers continued to buy less beer. In addition to the macro trends we've been hearing about from companies like weak consumer sentiment and a softening job market, Constellation also cited a downturn in 4,000 calorie jobs, aka physically demanding jobs in areas like construction or mining that typically boost beer sales. So the results released after the market close on Wednesday, weren't great, but they were better than Wall street was expecting. Shares closed 5.3% higher on Thursday, and on the week they added 4.1%. Finally, we have a big pharma deal to talk about. Eli Lilly said Wednesday that it agreed to pay around $1 billion for drug maker Ventix Biosciences, a deal that could help Lilly compete in a promising new treatment area. Usually when we're talking about buzzy pharma news, it's all about weight loss drugs like Ozempic and the like. But not today. Not directly at least. Ventix has been focused on developing drugs targeting inflammatory response. And if its experimental pills pan out, they would add to Lilly's portfolio of treatments for autoimmune conditions as well as for obesity and other related disorders. And it could help Lilly compete against other big rivals, including Ozempic maker Novo Nordisk that analysts say have been circling this emerging category. Ventiq's shares ended up soaring 37% Wednesday and on the week jumped a whopping 64%. And now you know what's news in markets this week. You can read about more stocks that moved on the week's news in the Score, my column in the Wall Street Journal's Exchange section. Today's show is produced by Michael Lavall with supervising producers Jana Herron and Melanie Roy. I'm Francesca Fontana. Have a great weekend and see you next Saturday.
[04:44]
A
Well, the holidays have come and gone once again, but if you've forgotten to get that special someone in your life a gift, well, Mint Mobile is extending their holiday offer of half off unlimited wireless. So here's the idea. You get it now. You call it an early present for next year. What do you have to lose? Give it a try@mintmobile.com Switch limited time.
[05:04]
D
50% off regular price for new customers. Upfront payment required $45 for 3 months, $90 for 6 month or $180 for 12 month. Plan taxes and fees. Extra speeds may slow after 50 gigabytes per month when network is busy. See terms.