Defense giants are emerging as relative winners from the Iran war and the oil shock roiling global markets, with investors flocking to the largest U.S. primes as hedges against escalating conflict and inflation risk.
LMT stock is moving. See the chart and price action here.
Crude prices surged past $110 a barrel, before pulling back on Monday as fighting and disruption around the vital Strait of Hormuz chokes off a key artery for global energy flows, triggering the biggest weekly gain in U.S. oil futures on record and stoking fears of renewed inflation.
While major equity indexes have slumped on the prospect of higher-for-longer interest rates, shares of defense contractors have jumped on expectations of heavier weapons usage and larger Pentagon budgets tied to the conflict.
The Majors
Lockheed Martin Corp. (NYSE:LMT) has been the sector standout, with the stock up rnearly 40% this year, according to Benzinga Pro data, and …Full story available on Benzinga.com
