These 7 aerospace and defense stocks are getting a huge boost from Trump's strike on Iran
- Aerospace and defense firms are among the few groups of stocks soaring in Friday trading, with new fears of conflict between the US and Iran boosting war-driven industries.
- A US airstrike approved by President Trump killed top Iranian general Qassem Soleimani on Thursday, ratcheting up tensions between the two nations and tanking prices for many risk assets.
- Save-haven investments like gold surged, and the price of oil surged as analysts considered how Iran could harm the global oil supply.
- Here are the seven major aerospace and defense stocks jumping in Friday trading, ranked in ascending order of intraday performance.
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Aerospace and defense companies are among the few groups of stocks rising in Friday trading, with escalating tensions between the US and Iran boosting the war-driven industries.The S&P 500 Aerospace & Defense Industry Index climbed as much as 1.5%, while major indexes slid roughly 1% at their intraday lows.Advertisement
A US airstrike killed top Iranian general Qassem Soleimani on Thursday, leading global stocks to drop while gold and oil spiked. The attack came "at the direction of" President Trump, according to the Defense Department, and was meant to deter "future Iranian attack plans."
Iranian officials quickly responded to the strike, with the nation's supreme leader warning "harsh retaliation is waiting" for the US."Trump through his gamble has dragged the US into the most dangerous situation in the region," a senior advisor to Iranian President Hassan Rouhani said. "Whoever put his foot beyond the red line should be ready to face its consequences."
All three major US stock indexes are down as traders flee the volatile market, but a select few firms are surging on the heightened chance of armed conflict between the US and Iran.Here are the seven major defense and aerospace stocks rising in Friday trading, ranked in ascending order of intraday performance. Data is as of 12:00 p.m. ET.Advertisement