Diamonds and Dogs
The Defense stocks are higher. Lockheed Martin (LMT) is up 3%, Northrop Grumman (NOC) rose 6% and General Dynamics (GD) is up a percent after the US air strike in Iraq that killed Qassem Soleimani, a top Iranian general and an Iraqi paramilitary commander. Increase tensions in the Middle East could make it tougher for the Democratic Party to argue against a stronger defense budget in 2020.
Another tough day for the airlines. American Airlines (AAL) is down 4% after the jump in the price of oil. The airliners were already struggling with the grounding and delay in the Boeing 737 max planes. Now with heightened tensions in the Middle East, the price of oil is up nearly 3% today and up 12.5% in the last month.