Middle East conflict to inject cash into defense contractor sector, FT says

The Middle East conflict promises to inject additional cash into the defense contractor sector as the U.S. and its allies look to refill their weapon stockpiles, Sylvia Pfiefer, Christian Davies, and Steff Chavex of The Financial Times reports. In Washington, the Trump admin is planning to request Congress for $1.5T in defense spending for the year, with the Pentagon asking the White House to submit a request to Congress for an extra $200B to help fund the war in Iran at the same time. While there is no certainty these requests will be approved, it is clear the war has depleted stockpiles of America’s missile and air defense systems built by RTX (RTX) and Lockheed Martin (LMT).