Defense Stocks See Short-Term Gains From Israel-Hamas War But Face Uncertainty as Recession Fears Loom
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Defense stocks tend to rise during geopolitical conflicts like the recent Israel-Hamas war, with companies like Lockheed Martin and Northrop Grumman seeing shares spike. However, gains are often short-lived.
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The conflict may exacerbate recession fears, with JPMorgan's Jamie Dimon warning the Israel-Hamas and Ukraine wars could impact energy, food, trade and relationships.
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President Biden's proposed 4% defense budget increase is stalled in Congress, leaving funding uncertain and limiting defense stock gains.
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Goldman Sachs CEO David Solomon has stopped his public DJ performances to avoid outside attention amid leadership questions.
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Twitter is testing a new $1 "Not a Bot" annual subscription for new accounts to reduce spam and bots, though it's not meant as a profit driver.