Defense stocks jump after US missile strike on Syria

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Markets Insider

Defense stocks are up in pre-market trading following US air strikes on Syria last night.

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The US Navy fired at least 59 Tomahawk Missiles from two battleships, the USS Ross and the USS Porter, at dawn local time on Friday in retaliation for a chemical weapon strike earlier this week attributed to the Assad regime.

The company that makes those missiles, Raytheon, is up more than 2% in early morning trading. Lockheed Martin, the producer of the new F-35 fighter jet and the Hellfire missile, is up more than 1%.

Boeing, which has millions in government defense contracts, is up slightly this morning. Boeing makes the JDAM GPS, a guidance system for bombs.

The iShares Dow Jones US Aerospace & Defense ETF that tracks the performance of air and defense stocks is up 14.03% since the Presidential election, outpacing the Dow Jones industrial average.

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