Wall Street experiences gains tied to weapons and military equipment

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The Associated Press reports modest gains on Thursday on Wall Street, with some of the largest gains coming from weapon and military equipment manufacturers.

The S&P 500 sits at 6,913, while the Nasdaq composite sits at 23,423 and the Dow Jones is at 49,254 as of 1:40 p.m.

The economy faces mixed reports, but the majority of stocks rose as yields climbed in the bond market. A higher rate of unemployment benefits last week could also indicate increased layoffs.

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