https://sputnikglobe.com/20231010/us-military-stocks-soar-amid-gaza-conflict-1114059328.html
US Military Stocks Soar Amid Gaza Conflict
US Military Stocks Soar Amid Gaza Conflict
Sputnik International
US is a top world defense spender and American military companies are top Washington contractors, earning billions from arms sails. The conflict in the Middle East will likely boost their profits even further, making their stock a perfect yet somewhat controversial investment.
2023-10-10T11:40+0000
2023-10-10T11:40+0000
2023-10-10T11:40+0000
economy
palestine-israel conflict
us defense spending
lockheed martin
raytheon
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Shares of US military companies jumped in the wake of the escalation of the Israel-Hamas crisis. During the October 9 trade session, stocks of Lockheed Martin Corp, Northtrop Gruman Corp and other arms makers led gains in the S&P 500. Lockheed Martin – the famous producer of F-16 and F-35 fighter jets, as well as Javelins and even intercontinental ballistic missiles, gained almost 9%, while RTX (former Raytheon) – the manufacturer of the Patriot air defense system – rose up to 4%.The trend continued on October 10 during the pre-market session. According to analysts, the unrest in the Middle East brought investor attention to defense stocks. De facto, this means that traders believe the US will actively support Israel with arms and munition, thus boosting profits of American defense companies.This also implies that US investors allegedly bet on the long-lasting conflict.Earlier, US President Joe Biden pledged his "full support" to Israel amidst ongoing hostilities. According to media reports, Tel Aviv asked the White House to replenish their supply of missile interceptors, referring to the Iron Dome system.White House National Security Council spokesman John Kirby later said that the Biden administration is mulling asking Congress for additional funds to support Israel.The United States is the global top military spender, dedicating about 3% of GDP or 12% of all government expenditures to defense – which is almost $880 billion. For comparison, Russia and China together spent less than $300 billion on defense in 2023.
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Sputnik International
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Sputnik International
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us defense companies, blood money, us defense spending, militarism, us profits on war
us defense companies, blood money, us defense spending, militarism, us profits on war
US Military Stocks Soar Amid Gaza Conflict
Washington is a top global defense spender and American military companies earn billions from arms sales. The conflict in the Middle East will likely boost their profits even further, making their stock a perfect yet somewhat controversial investment.
Shares of US military companies jumped in the wake of the escalation of the Israel-Hamas crisis.
During the October 9 trade session, stocks of Lockheed Martin Corp, Northtrop Gruman Corp and other arms makers led gains in the S&P 500. Lockheed Martin – the famous producer of F-16 and F-35 fighter jets, as well as Javelins and even intercontinental ballistic missiles, gained almost 9%, while RTX (former Raytheon) – the manufacturer of the Patriot air defense system – rose up to 4%.
The trend continued on October 10 during the pre-market session. According to analysts, the unrest in the Middle East brought investor attention to defense stocks. De facto, this means that traders believe the US will actively support Israel with arms and munition, thus boosting profits of American defense companies.
This also implies that US investors allegedly bet on the long-lasting conflict.
Earlier, US President Joe Biden pledged his "full support" to Israel amidst ongoing hostilities. According to media reports,
Tel Aviv asked the White House to replenish their supply of missile interceptors, referring to the Iron Dome system.
White House National Security Council spokesman John Kirby later said that the
Biden administration is mulling asking Congress for additional funds to support Israel.
The United States
is the global top military spender, dedicating about 3% of GDP or 12% of all government expenditures to defense – which is almost $880 billion. For comparison, Russia and China together spent less than $300 billion on defense in 2023.
