Defense Stocks Rally After Trump’s Budget Call
“After the long and difficult negotiations with Senators, Congressmen, Secretaries, and other Political Representatives, I have determined that, for the Good of our Country, especially in these very troubled and dangerous times, our Military Budget for the year 2027 should not be $1 Trillion Dollars, rather $1.5 Trillion Dollars,” Trump wrote on his Truth Social account late Wednesday.
“This will allow us to build the 'Dream Military' that we have long been entitled to, and, more importantly, that will keep us SAFE and SECURE, regardless of foe," he added.
The announcement triggered a sharp rise in defense stocks: Northrop Grumman gained 6.8%, Lockheed Martin rose 6.7%, RTX advanced 5.4%, and Kratos Defense climbed 6.6% in premarket trading.
In Europe, the Stoxx Aerospace and Defense index increased 1.4%, with Renk up 3.6% and Leonardo rising 1.5%. Asian defense firms also saw gains, with Mitsubishi Heavy advancing 2.4% and Bharat Electronics edging up 0.3%.
Meanwhile, geopolitical tensions escalated as US forces captured Venezuelan President Nicolas Maduro and his wife during a midnight raid over the weekend. American authorities charged the couple with narcotics trafficking in New York on Saturday morning.
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