President Trump issued several executive orders to reshape and reorganize the US military, which comes as Pete Hegseth was confirmed as the Secretary of the US Department of Defense. What does this all mean for the defense sector and the US government’s plans for military spending?
The Pentagon’s Silicon Valley Office founder Christopher Kirchhoff expects to see "broad increases across the board for both traditional weapons systems and new entrants" as lawmakers are expected to propose an increase in defense spending in the upcoming reconciliation bill.
"The risks are mainly political in the sense that there really is broad bipartisan support for transforming the department on a lot of important points that were outlined in the Trump team’s vision and Project 2025, and Secretary of Defense Pete Hegseth’s opening statement — they want to increase lethality, they want to take on hypersonics, they want to make the most of space," The Unit X: How the Pentagon and Silicon Valley are Transforming the Future co-author tells Seana Smith and Alexandra Canal.
Shares of defense contractors Lockheed Martin (LMT) and RTX (RTX) are reacting to their respective earnings results.
#TRUMP #stocks #NEWS
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