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The iShares Dow Jones US Aerospace & Defense ETF (NYSE:ITA) was on the rise Monday morning, amid President Trump’s new arms deal with Saudi Arabia.

The president, who last week made his first foreign journey since taking office, established a massive deal over the weekend to supply weapons to the Arab nation. The pact will be worth $350 million over a period of ten years.

CNBC notes that several defense-related stocks surged to fresh all-time highs on the news this morning:

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In late 2016, OPEC, along with the Russian’s and other countries, agreed to cut production in order to try and “balance” the supply/demand imbalance that drove oil prices to the low $30’s at the nadir of the oil price crash.

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Electronic market making firm Arxis Capital, run by g=former Knight CEO Tom Joyce, is reportedly shutting down ts operations.

Smart Global expects to price more than 5 million shares in the range of $13 to $15 apiece in an initial public offering valued up to more than $91 million.

Specialty metals company Arconic said it would allow Elliott Management Corp to nominate three members to the company’s board, ending a proxy contest with the activist investor.

Ford is replacing its chief executive, Mark Fields, after Fields has been criticized for the company’s lagging financial results.

Oil prices were volatile on Monday as investors awaited a signal on output policy from OPEC’s two biggest producers.