Defense stocks may keep rallying after gains from Israel-Hamas war

News Snapshot:

Wall Street analysts expect defense stocks will continue to move higher as a result of the outbreak of the Israel-Hamas war making it less likely Congress will delay or curb the nation's defense budget. Defense stocks have underperformed as a group this year amid concerns that partisan divisions in Washington point to lower military spending. For example, the iShares U.S. Aerospace & Defense ETF (ITA) is down more than 6% in the past three months, even after climbing 4.5% Monday in its best day this year. The defense ETF gained another 0.7% on Tuesday. ITA 5D mountain ITA Many Wall...