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Lockheed Martin, Northrop Grumman Stocks Notch Best Days In Years Amid Israel-Hamas Conflict

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I'm a New Jersey-based Senior Reporter on our news desk. I graduated in 2021 from Duke University, where I majored in Economics and served as sports editor for The Chronicle, Duke's student newspaper. Send tips at dsaul@forbes.com.

Defense stocks surged while the broader market dipped Monday as Wall Street sifted through the market fallout of the conflict between Israel and Hamas, which escalated this weekend by the latter’sMajor U.S. indexes declined early Monday, with the Dow Jones Industrial Average, S&P 500 and tech-heavy Nasdaq each down slightly.

The iShares U.S. Aerospace & Defense ETF rose more than 4% by midday, buoyed by major spikes from Lockheed Martin , Northrop Grumman and Raytheon . Meanwhile, airline stocks were among the hardest-hit as concerns mounted about air travel to Israel; shares of American, Delta and United airlines each fell about 6%.Lockheed Martin’s stock jump Monday was the biggest for the U.S.’ largest defense contractor on a non-earnings day since March 2020, narrowly topping the gains it notched Immediately after Russia launched its full-scale invasion of Ukraine. Northrop Grumman shares also had their best day since 2020.

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