Smaller defense companies have fared worse recently, presenting a possible buying opportunity.
SpaceX stock climbed about 2% after Elon Musk pledged to give a share of his stock to "every kid in America," with analysts predicting a Tesla merger price.
RTX and GE Aerospace led defense earnings amid soaring demand, while RTX won a $6 billion Pentagon contract for interceptor missiles. Anduril won $4.7 billion in defense contracts after Palmer Luckey took a key role.
Boeing won a $14.7 billion missile deal and another next-generation fighter contract worth $20 billion. GM won a $700 million Pentagon contract, and shares rose about 1%. Cathie Wood's ARK Invest doubled down on air taxi stocks and defense plays.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing