according to Bernstein analysts, citing prior market performance amidst international military conflicts.Wall Street has pumped money into the defense sector following the largest military escalation in years out of Israel, with the iShares U.S.
In order to continue the rally, defense stocks would need a significant rise in the U.S. defense budget, the “leading driver” of the grouping’s market performance, Harned argued.in Congress and the “relatively small scale” of the Israel-Hamas conflict in its current stages, according to Harned, who cited examples of long-term strife like the Cold War and war in Iraq as long-term drivers of defense stock growth, evoking last year’s short-lived rally for the bunch after Russia invaded Ukraine.
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