Defense stocks in general are surging, and General Dynamics ( GD +5.02%) stock in particular is up 6% as of 9:50 a.m. ET. The President didn't provide a whole lot of detail on where he wants to spend $1.5 trillion, or which companies will benefit from government largesse. One thing he did make crystal clear:

Asked whether building a robot that functions similarly to a human—only stronger, more heat resistant and less prone to fatigue—could put human jobs at risk, Boston Dynamics CEO Robert Playter said it likely will.

Media billionaire Kerry Stokes made a near $9 billion buyout approach along with U.S.-based long-time suitor Steel Dynamics for Australia's top steelmaker BlueScope in a move that would substantially

Kerry Stokes' SGH and Steel Dynamics make a $9 billion buyout approach for Australia's BlueScope, aiming to expand their industrial footprint.