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U.S. Defense Contractors May Benefit From Depletion of Hardware and Munitions

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U.S. Defense Contractors May Benefit From Depletion of Hardware and Munitions: Tom Essaye Quoted in Morningstar

These defense stocks may fare best whether Biden or Trump wins in November

One of the industry groups whose stocks Tom Essaye, publisher of Sevens Report Research, said he would expect to perform well during a second Trump term is defense.

Trump’s return to the White House could benefit these stock-market sectors – while undercutting others

Of course, regardless of who wins the November election, U.S. defense contractors may benefit from the depletion of hardware and munitions resulting from U.S. and other NATO countries’ support for Ukraine’s defense against Russia’s invasion, along with renewed efforts to bolster the conventional defenses of Western European countries.

Also, click here to view the full MarketWatch article published on Morningstar on February 28th, 2024. However, to see the Sevens Report’s full comments on the current market environment sign up here.

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Time to Buy Defense Stocks?

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What’s in Today’s Report:

  • Was that the Bottom in Boeing? (Time to Buy Defense Stocks?)
  • Durable Goods Takeaways (Not as Bad as It Appeared)

U.S. stock futures are marginally higher this morning while international markets were little changed overnight as news wires were very quiet and attendance is notably thin ahead of the Christmas holiday.

There were no economic reports overnight and no market-moving headlines have crossed since yesterday’s close.

Looking into today’s holiday-shortened session (the NYSE will close at 1:00 p.m. ET), there are no notable economic releases and no Fed officials are scheduled to speak.

The only potential market catalyst on the calendar is a 5-Yr Note Auction by the Treasury at 10:00 a.m. ET. Any significant moves in the belly of the yield curve could affect stocks today as computer trading will dominate the price action due to the low attendance ahead of Christmas.