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You are here News International Defense stocks rise as Trump says the US is ‘locked and loaded’ in response to Saudi oil attack

Defense stocks rise as Trump says the US is ‘locked and loaded’ in response to Saudi oil attack

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Oil shares rise after dron attackShares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump following drone attacks on oil production in Saudi Arabia.

Trump said in a tweet on Sunday that the “there is reason to believe we know the culprit” behind the attacks, adding that the United States is “locked and loaded depending on verification.

The S&P 500 Aerospace and Defense index rose as much as 0.6%, with shares of L3Harris and Raytheon leading the gains with increases of about 2% each. Lockheed Martin’s stock also climbed 1.5%, while Northrup Grumman rose 1%. The gains came as the broader stock market declined.

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