Defense contractors rallied Monday after White House officials said President Donald Trump’s upcoming budget will propose a $54 billion increase in military funding. Lockheed Martin (NYSE:LMT), the top supplier to the Pentagon, nearly surpassed its 52-week high in mid-morning trading. Shares rose 1.6% to $268.32 a share. Since Election Day, Lockheed Martin has gained 11.9%.
Jerome Hudson, Jim Hoffa, president of the International Brotherhood of Teamsters, says his organization will “fight” Kellogg’s decision to shift from direct delivery of its foods to stores, a move that will result in the firing of more than 1,100 full-time workers at Kellogg’s facilities across the country. “On February 8, The Kellogg Company (NYSE: K) announced its short-sighted
It’s a go. The construction of the wall on the Mexican border, dividing the country from the U.S., will begin now as President Trump makes good on another campaign promise. “We will begin immediate construction of a border wall. It is so badly needed. This will also help Mexico by deterring illegal immigration from central
The wait for Dow 20000 is over. The blue-chip average sailed past what had been an elusive milestone Wednesday after President Donald Trump demonstrated in recent days he is serious about fulfilling campaign promises. The Dow’s march toward the psychologically-significant level captivated Wall Street ever since Trump’s surprise election in November, and it finally broke
Wall Street let some air out of its euphoric Trump rally Thursday as investors craved more clarity from the president-elect on his policy proposals. Though short on details, Donald Trump’s press conference Wednesday afternoon socked drug stocks, and forced investors to consider whether their enthusiasm had driven equity prices up too far too fast. Before
JPMorgan CEO Jamie Dimon is fairly hopeful about President-elect Trump’s planned economic policies. “I like the fact that the focus has been on growth, and you see it when they talk about the tax policy, regulatory policy. I think growth is going to be very good for all Americans, not just for companies,” he said, pointing
Forget a white Christmas. Consumers across America are seeing green as their holiday dreams have been sweetened by bigger budgets and boosted confidence levels. Optimism about the end of a tumultuous election year and record highs on Wall Street – which has been dubbed the “Trump rally” — have helped prime Main Street America’s pocketbooks
A U.S. Air Force KC-10 refueling tanker from the 60th Air Mobility Wing stationed at Travis Air Force Base in California lost its refueling boom on Tuesday and had to make an emergency landing at Mountain Home AFB in Idaho. The incident occurred during a training exercise as the tanker was preparing to refuel F-15s.
24/7 Wall St. has put together a preview of some of the major companies reporting their quarterly results this week. We are still in the summer doldrums in terms of earnings, but the recent Brexit has seemingly turned markets on their head, posing an interesting question for companies reporting in the coming week. We have
Michael SnyderEconomic Collapse The similarities between 2007 and 2014 continue to pile up. As you are about to see, U.S. home sales fell dramatically throughout 2007 even as the mainstream media, our politicians and Federal Reserve Chairman Ben Bernankepromised us that everything was going to be just fine and that we definitely were not going to