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)|