Defense Stocks End Longest Losing Streak in a Decade
An Advanced Medium Range Air-to-Air Missile manufactured by Raytheon Co.
Photographer: Brent Lewin/Bloomberg
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U.S. aerospace and defense stocks ended their longest losing streak in more than a decade on Wednesday, after the federal fiscal 2020 budget was released earlier this week.
The S&P Supercomposite Aerospace and Defense Industry Index gained as much as 1.2 percent, while the S&P 500 Index rose nearly 1 percent. The top gainers on the defense index included United Technologies, Huntington Ingalls, Raytheon, General Dynamics, Raytheon, Northrop Grumman, and Arconic.