Defense-sector stocks rose Friday on Wall Street after the United States killed Iran’s top military official and braced for escalated conflict in the region. Even as the broader Standard and Poor’s 500 index lost ground, the S&P Aerospace & Defense Select Industry index climbed 1.8% on Friday. The company is still reeling from the grounding of its 737 Max airplanes after two fatal crashes. Last month Boeing announced it would pause production of the 737 Max and ousted Chief Executive Dennis Muilenburg. The entire 737 Max debacle is the “most important factor right now for sentiment around Boeing,” Herbert said.

Source: Los Angeles Times January 03, 2020 19:52 UTC