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Effective URL: https://www.newser.com/story/326827/strong-lockheed-martin-earnings-lift-defense-stocks.html
Submission: On September 19 via api from US — Scanned from DE
Effective URL: https://www.newser.com/story/326827/strong-lockheed-martin-earnings-lift-defense-stocks.html
Submission: On September 19 via api from US — Scanned from DE
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<h1> Strong Lockheed Martin Earnings Lift Defense Stocks </h1>
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<div id="divDeck"> Indexes rose for a second day in a row </div>
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<span id="spanPublishedDate">Posted Oct 18, 2022 3:48 PM CDT</span>
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<span id="LabelCaptionSource">The Lockheed Martin Pike County Operations facility where Javelin anti-tank missiles are manufactured in Troy, Ala. (AP Photo/Evan Vucci)</span>
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<p class="storyParagraph"> Stocks rose on Wall Street Tuesday, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns. The S&P 500 rose 42.03 points, or 1.1%,
to 3,719.98. The Dow Jones Industrial Average rose 337.98 points, or 1.1%, to 30,523.80. The Nasdaq rose 96.60 points, or 0.9%, to 10,772.40. The gains tempered from an earlier jump that sent almost all of the stocks in
the S&P 500 higher. It was the latest knee-jerk motion in a market that has been moving erratically in recent weeks, the
<a rel="nofollow" href="https://www.newser.com/article/a02c0c2376ac6ecdc5fd8e1891be0444/stocks-climb-on-wall-street-as-investors-focus-on-earnings.html">AP</a> reports. Many US companies are reporting solid profits for the
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<p> The latest round of corporate earnings are a big focus for investors this week. Investment bank Goldman Sachs rose 2.3% after delivering results that beat estimates, which helped lift shares in other lenders. Banks have
been rallying since Friday, when several reported strong quarterly results. Lockheed Martin jumped 8.7% after reporting strong third-quarter earnings. That gave other defense stocks a boost. General Dynamics rose 3.8%,
Northrop Grumman gained 6.7%, and Raytheon Technologies added 3.5%. Health care giant Johnson & Johnson slipped 0.5% after reporting solid financial results, but a narrowed forecast as it deals with a strong US dollar
cutting into sales outside the US.</p>
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<p> United Airlines jumped more than 7% in after-hours trading after it reported third-quarter earnings of $942 million, above what analysts expected. Major indexes are still stuck in a bear market, which is when they've
fallen at least 20% from their most recent all-time highs. "High volatility is normal around the bottom of a bear market," says Jeff Buchbinder, equity strategist for LPL Financial. "One reason we may be seeing markets
hang in there a little bit better is that the narrative has switched to earnings from inflation and the Federal Reserve." He adds: "You have to stomach some volatility in the near term, but inflation is coming down. Work
by the Fed and the markets has really improved the inflation outlook from here, if you can look three to six months out."</p>
<div> </div> (More <a href="/tag/192/1/stock-market.html">stock market</a> stories.) <p></p>
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300,000 People Love Getting Our Emails. Join the Club. A fast and unbiased roundup of what’s happening in the world today. Sign up No thank you X * Must Reads Must Reads Most Popular * Popular * US * World * Science * Politics * Great Finds * More More sections Superlatives * Health * Tech * Money * Sports * Media * Breaking * Crime * Entertainment * Celebrity * Lifestyle * Travel * Green * Opinion * Brilliant * Hilarious * Intriguing By date * Today * Yesterday * Pick-a-date Sep 2024SMTWTFS 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1 2 3 4 5 * Depressing * Ridiculous * Scary * Log into your Newser account Logging in Joined Newser on: logout * Settings * Email Subscriptions * Comments * Find what you're looking for * More about Newser: * About Us * Editorial Policy * AI Policy * Contact Us * Terms of Use * Privacy Policy * Site Map * What's New Want to contribute? * Suggest a Story Get our apps: * iPhone * iPad * Android * Windows Install our app: * Newser App Breaking News More Money Stories» * How Will Fed's 'Great News for the Middle Class' Affect You? * Donald Trump Walks Into a Bar, Pulls Out His Bitcoin * House Rejects Funding Bill After Trump Weighs In * Fed's First Rate Cut in Years Didn't Lift Markets * Fed Chair Says Big Rate Cut Is 'Timely' * Federal Reserve Chooses Larger Interest Rate Cut * Prince Harry Had Quite the 40th Birthday * Feds Want $100M in Baltimore Bridge Collapse * A Truly Magical Coin Collection Is Finally for Sale * The Financial Question Driving Wednesday: How Big? * Trump Unveils His Latest Venture: Crypto * Titanic Shipbuilder Goes Bankrupt Money / stock market STRONG LOCKHEED MARTIN EARNINGS LIFT DEFENSE STOCKS Indexes rose for a second day in a row By Newser Editors and Wire Services Posted Oct 18, 2022 3:48 PM CDT Copied The Lockheed Martin Pike County Operations facility where Javelin anti-tank missiles are manufactured in Troy, Ala. (AP Photo/Evan Vucci) Stocks rose on Wall Street Tuesday, adding to weekly gains for major indexes that have been mired in a broad slump amid inflation and recession concerns. The S&P 500 rose 42.03 points, or 1.1%, to 3,719.98. The Dow Jones Industrial Average rose 337.98 points, or 1.1%, to 30,523.80. The Nasdaq rose 96.60 points, or 0.9%, to 10,772.40. The gains tempered from an earlier jump that sent almost all of the stocks in the S&P 500 higher. It was the latest knee-jerk motion in a market that has been moving erratically in recent weeks, the AP reports. Many US companies are reporting solid profits for the most recent quarter. The latest round of corporate earnings are a big focus for investors this week. Investment bank Goldman Sachs rose 2.3% after delivering results that beat estimates, which helped lift shares in other lenders. Banks have been rallying since Friday, when several reported strong quarterly results. Lockheed Martin jumped 8.7% after reporting strong third-quarter earnings. That gave other defense stocks a boost. General Dynamics rose 3.8%, Northrop Grumman gained 6.7%, and Raytheon Technologies added 3.5%. Health care giant Johnson & Johnson slipped 0.5% after reporting solid financial results, but a narrowed forecast as it deals with a strong US dollar cutting into sales outside the US. United Airlines jumped more than 7% in after-hours trading after it reported third-quarter earnings of $942 million, above what analysts expected. Major indexes are still stuck in a bear market, which is when they've fallen at least 20% from their most recent all-time highs. "High volatility is normal around the bottom of a bear market," says Jeff Buchbinder, equity strategist for LPL Financial. "One reason we may be seeing markets hang in there a little bit better is that the narrative has switched to earnings from inflation and the Federal Reserve." He adds: "You have to stomach some volatility in the near term, but inflation is coming down. Work by the Fed and the markets has really improved the inflation outlook from here, if you can look three to six months out." (More stock market stories.) Report an error Copyright 2024 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report. Vote 20 comments All stories Next Story My Take on This Story Show results 6% Hilarious 31% Intriguing 0% Depressing 44% Brilliant 13% Scary 6% Ridiculous Latest Money Stories * 1 hour, 21 minutes ago Bank of England Keeps Interest Rate Steady at 5% * 7 hours, 22 minutes ago Ossoff Pushes for Senate Oversight in Postmaster Selection * Sep 18, 2024 10:40 PM CDT Hackers Demand $6M in Bitcoin From Sea-Tac * Sep 18, 2024 10:05 PM CDT GM Offers Adapters for Access to Tesla Superchargers * Sep 18, 2024 2:15 PM CDT Alaska Airlines Completes $1B Acquisition of Hawaiian Airlines Read More Most Read on Newser * First Billionaire to Walk in Space: It Wasn't 'Peaceful' 1 * First Billionaire to Walk in Space: It Wasn't 'Peaceful' 1 * 2 Women Who Started Springfield Rumors Speak Out 2 * Dolly Parton Responds to Beyonce's CMAs Snub 3 News From Our Partners Business 3 BIG SOCIAL SECURITY CHANGES COMING IN 2025 MAY SURPRISE MANY AMERICANS Business TRUMP WARNS SOCIAL SECURITY COULD COLLAPSE. 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