Why Defense Stocks Are Going Great Guns

Investors figure spending will rise no matter who is elected

Companies in the aerospace and defense industry may have trouble launching rockets. But that isn't stopping their stocks from heading into the stratosphere, leaving the broader market coughing in their plumes. The Standard & Poor's 500-stock index has edged up 7.3% since Mar. 1, but since their 52-week lows that month, Litton Industries has rocketed 103%, Lockheed Martin has soared 79%, Northrop Grumman has risen 84%, and General Dynamics is up 73%.

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