Wall Street experienced a significant selloff with the Nasdaq 100 nearing correction territory and the Dow Jones dropping over 1,000 points, wiping out recent gains. The selloff is driven by fears of rising interest rates after three Federal Reserve members dissented in favor of a hike, pushing the 30-year Treasury yield above 5.20%, levels last seen during the Global Financial Crisis. Additional uncertainty stems from escalating Middle East conflicts and skepticism about the pace and returns of AI investments, highlighted by Meta's 9% stock drop after earnings. Despite broad market weakness, retail investors are selectively selling certain tech stocks, especially memory chip makers, as a defensive move rather than exiting equities entirely. Upcoming earnings from major companies like Apple and Amazon will be closely watched for market direction.
The U.S. government awarded Lockheed Martin a $53.86 billion contract modification to increase production of PAC-3 Missile Segment Enhancement interceptors over seven years, raising the total contract value to $58.62 billion. This funding will triple...
Lockheed Martin reported strong Q2 results, surpassing expectations due to increased global defense demand driven by conflicts in Ukraine and the Middle East. The company now has a record $230.4 billion backlog, providing multi-year revenue visibilit...
The iShares US Aerospace & Defense ETF (ITA) has earned a strong buy rating due to robust growth in the aerospace and defense sectors. Key companies in the ETF, such as GE, RTX, TDG, HWM, and LMT, have surpassed earnings expectations, raised their fu...
