{"id":70727,"date":"2023-10-09T19:38:01","date_gmt":"2023-10-09T23:38:01","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/surging-aerospace-and-defense-stocks-lift-these-etfs-as-investors-monitor-israel-hamas-war\/"},"modified":"2023-10-09T19:38:04","modified_gmt":"2023-10-09T23:38:04","slug":"surging-aerospace-and-defense-stocks-lift-these-etfs-as-investors-monitor-israel-hamas-war","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=70727","title":{"rendered":"Surging aerospace and defense stocks lift these ETFs as investors monitor Israel-Hamas war"},"content":{"rendered":"
\n

Exchange-traded funds that buy aerospace and defense stocks surged on Monday, after war erupted over the weekend between Israel and Hamas.\u00a0<\/p>\n

Shares of the iShares U.S. Aerospace & Defense ETF
\n ITA
\n closed around 4.5% higher, while the Invesco Aerospace & Defense ETF
\n PPA
\n gained 4.1% and the SPDR S&P Aerospace & Defense ETF
\n XAR
\n rose 4.2%, according to FactSet data.\u00a0<\/p>\n

\n

Israel officially declared war on Sunday after a surprise attack by Hamas. The attack and Israel\u2019s response have left more than 1,100 dead on both sides, the Associated Press reported Monday. And the death toll for American citizens in the war has risen to 11, the AP said, citing an announcement from President Joe Biden.<\/p>\n

\u201cClearly it\u2019s a huge human tragedy,\u201d Sameer Samana, senior global market strategist at Wells Fargo Investment Institute, said in a phone interview Monday.\u00a0<\/p>\n

\u201cIt seems like we\u2019re entering a different phase globally with respect to geopolitics,\u201d with conflicts appearing more likely compared with the past decade or two, he said. \u201cAs countries need to replenish their weapons, we do think defense companies will do very well.\u201d<\/p>\n

Wells Fargo Investment Institute upgraded the industrials sector, which includes aerospace and defense stocks, to \u201coverweight\u201d a few months ago, according to Samana. Part of the rationale was tied to its view of geopolitical conflicts becoming more likely, with defense stocks being potentially a place to \u201chide out because of the more durable demand for the defense-related goods and services.\u201d\u00a0<\/p>\n

The top five holdings of the iShares U.S. Aerospace & Defense ETF as of Oct. 6 were Boeing Co.
\n BA,
\n +0.59%<\/bg-quote>,<\/span>
\n RTX Corp.
\n RTX,
\n +4.62%<\/bg-quote>,<\/span>
\n Lockheed Martin Corp.
\n LMT,
\n +8.93%<\/bg-quote>,<\/span>
\n Textron Inc.
\n TXT,
\n +3.00%<\/bg-quote>
\n and General Dynamics Corp.
\n GD,
\n +8.43%<\/bg-quote>,<\/span>
\n according to data on BlackRock\u2019s website.\u00a0<\/p>\n

Shares of General Dynamics soared 8.4% on Monday, while Lockheed Martin\u2019s stock surged 8.9% and RTX jumped 4.6%, according to FactSet data. Boeing ended modestly higher Monday, with a 0.6% gain, while Textron shares rose a sharp 3%.<\/p>\n

The broader U.S. stock market finished higher Monday, with the Dow Jones Industrial Average
\n DJIA
\n and S&P 500
\n SPX
\n each rising 0.6% while the Nasdaq Composite
\n COMP
\n edged up 0.4%, according to FactSet data.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Exchange-traded funds that buy aerospace and defense stocks surged on Monday, after war erupted over the weekend between Israel and Hamas.\u00a0 Shares of the iShares U.S. Aerospace & Defense ETF ITA closed around 4.5% higher, while the Invesco Aerospace & Defense ETF PPA gained 4.1% and the SPDR S&P Aerospace & Defense ETF XAR rose […]<\/p>\n","protected":false},"author":1,"featured_media":70728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-70727","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nSurging aerospace and defense stocks lift these ETFs as investors monitor Israel-Hamas war | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Exchange-traded funds that buy aerospace and defense stocks surged on Monday, after war erupted over 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