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: