Defense stocks jump after US missile strike on Syria
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.
