Of the four major defense-related stocks, The Boeing Company is the leader. It’s a component of the Dow Jones Industrial Average, and the stock is up 18.0% year to date and solidly in bull market territory at 112.7% above its 52-week low of $163.69 set on Feb. 8, 2017.
General Dynamics Corporation is another defense stock on the rise. The stock is up 5.7% year to date and up 18.1% from its Feb. 8, 2017, low of $181.94. Lockheed Martin Corporation is another strong defense stock that has a gain of 7.6% year to date and is in bull market territory at 35.2% above its Feb. 7, 2017, low of $255.58. Northrop Grumman Corporation stock is also on the rise, with a year-to-date gain of 10% and in bull market territory at 45.6% above its Feb. 9, 2017, low of $231.98.
On Wednesday, Senate leaders reached a deal to increase military spending over the next two years. This bill should pass in the Senate, but it could meet resistance in the House of Representatives. If the deal gets done, spending on the military will rise by $80 billion this year and $85 billion next year, which begins on Oct. 1. Here’s how to trade these stocks based upon weekly charts and key levels. (See also: 3 Under-the-Radar Defense Plays.)
Boeing, General Dynamics, Lockheed Market and Northrop Grumman are set to benefit from an increased budget for defense spending. …read more
Read more here: Play Defense With Boeing, 3 Other Military Stocks
Category: BA, GD, LMT, NOC