Israel war boosts Lockheed Martin, Northrup Grumman, other defense stocks

Northrop Grumman, General Dynamics, Lockheed Martin shares climb

U.S. defense stocks spiked Monday after the attack on Israel by Hamas left over 1,000 dead and even more wounded. 

Israeli Prime Minister Benjamin Netanyahu said in a video on Saturday that Israel is "at war" and called for a massive military response. Additionally, on Sunday, Netanyahu told President Biden "We have to go in," according to Axios. 

Shares of Lockheed Martin, Northrop Grumman, RTX and General Dynamics all rose as investors speculate how the U.S. made aid its ally which could include ordering more weapons. 

Ticker Security Last Change Change %
LMT LOCKHEED MARTIN CORP. 464.14 +7.99 +1.75%
NOC NORTHROP GRUMMAN CORP. 462.64 +10.35 +2.29%
GD GENERAL DYNAMICS CORP. 288.74 +3.48 +1.22%
BA THE BOEING CO. 169.82 -0.41 -0.24%

The Israeli leader has previously said that the war against Hamas will be "long and difficult."

Israeli Prime Minister Benjamin Netanyahu. (Sean Gallup/Getty Images / Getty Images)

Hamas terrorists struck Israel over the weekend in the deadliest attacks the country has experienced in decades. Israel’s government has launched airstrikes on the Hamas-controlled Gaza Strip and is mobilizing military reservists in preparation for a response, while Hezbollah – an Iran-backed terror proxy based in Lebanon – has expressed support for Hamas and remains a threat on Israel’s northern border.

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Israel Hamas Iron Dome

A salvo of rockets is fired by Palestinian militants from Gaza as an Israeli missile launched from the Iron Dome defense missile system attempts to intercept the rockets, fired from the Gaza Strip, over the city of Netivot in southern Israel on Oct. (Photo by MAHMUD HAMS/AFP via Getty Images / Getty Images)

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Shares of General Dynamics, which makes submarines and combat vehicles, rose the most since March 2020 when it gained over 9%, according to Dow Jones Market Data Group. 

General Dynamics

Lockheed Martin makes F-35 fighter jets as well as Sikorsky and Black Hawk helicopters. 

F-35 Fly-by

U.S. Air Force Maj. Kristin Wolfe performs a demonstration in the F-35A Lightning II during at the Reno Air Races in Reno, Nevada, Sept. 19, 2021. The F-35 Lightning II Demonstration Team is based out of Hill Air Force Base, Utah. (U.S. Air Force photo by Tech. Sgt. Nicolas Myers / Air Force Thunderbirds /DVIDS / Fox News)

The fiscal 2024 National Defense Authorization Act is asking for a 3.3% rise in U.S. defense spending to $886.3 billion, while analysts at Bank of America predict the U.S. Department of Defense’s discretionary spending will shoot past the $1 trillion level by fiscal 2026.

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Sikorsky-Boeing SB-1 Defiant

The new Sikorsky-Boeing SB-1 Defiant helicopter from Lockheed-Sikorsky and Boeing, via the Defense Visual Information Distribution Service. (Lockheed-Sikorsky and Boeing / Fox News)

ISRAEL AT WAR WITH HAMAS AFTER SURPRISE ATTACKS, AT LEAST 800 ISRAELIS DEAD

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FOX Business' Eric Revell contributed to this report.