The Trump Rally Extends: Stocks in the Defense Sector Mark Record Highs

The Trump Rally Extends: Stocks in the Defense Sector Mark Record Highs

The Trump Rally Extends: Stocks in the Defense Sector Mark Record Highs

$DIA, $SPY, $QQQ, $VXX

President Donald Trump’s approval of $110-B in arms sales to Saudi Arabia gave stocks in the defense sector a lift to record highs Monday. The deal includes $350-B more in defense support over 10 years.

Lockheed Martin (NYSE:LMT) was up about 2%, Raytheon (NYSE:RTN) was up more than 1.4%, Northrop Grumman (NYSE:NOC) climbed 1%, and General Dynamics (NYSE:GD) was up about 0.5%. All 4 stocks reached all-time highs, according to the data at the close Monday.

Jet maker Boeing (NYSE:BA) also signed deals with Saudi Arabia during President Trump’s weekend visit, involving the sale of military and passenger aircraft. Its stock was up about 2% on the day.

Saudi Arabia was the 1st country Donald Trump visited as President in a move to repair relations that were strained under Barack Hussein Obama, who favored Iran.

President Trump began a 2-day visit to Jerusalem Monday after making a direct flight from Riyadh on what was believed to be the 1st open, direct flight to Israel from Saudi Arabia. The 2 countries do not have diplomatic ties.

President Trump will visit Italy and Belgium next.

Monday, the major US stock market indexes finished at: DJIA +89.99 at 20894.83, NAS Comp +49.91 at 6133.60, S&P 500 +12.29 at 2394.02

Volume: Trade on the NYSE came in at 956.2-M/shares exchanged.

  • NAS Comp +13.9% YTD
  • S&P 500 +6.9% YTD
  • DJIA +5.7% YTD
  • Russell 2000 1.5% YTD
HeffX-LTN Analysis for DIA: Overall Short Intermediate Long
Bullish (0.29) Neutral (0.10) Bullish (0.42) Bullish (0.35)
HeffX-LTN Analysis for SPY: Overall Short Intermediate Long
Neutral (0.17) Neutral (-0.18) Bullish (0.44) Bullish (0.25)
HeffX-LTN Analysis for QQQ: Overall Short Intermediate Long
Bullish (0.26) Bullish (0.25) Bullish (0.29) Bullish (0.25)
HeffX-LTN Analysis for VXX: Overall Short Intermediate Long
Bearish (-0.35) Bearish (-0.33) Bearish (-0.46) Bearish (-0.25)

Stay tuned…

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