Stock Market Update
18-Oct-22 12:30 ET
Defense companies outperform in sympathy with LMT
Dow +240.86
at 30428.71,
Nasdaq +81.60
at 10757.25,
S&P +30.38
at 3708.40
[BRIEFING.COM] The major averages lifted somewhat off session lows in recent trading.
The S&P 500 industrials sector (+1.7%) pushed to the top of the leaderboard recently thanks to outsized gains in Lockheed Martin (LMT 426.37, +29.03, +7.3%) after the company reported better-than-expected earnings. Northrop Grumman (NOC 498.15, +22.98, +4.6%) and L3Harris Technologies (LHX 234.06, +10.64, +4.8%) trade up in sympathy.
Notably, small and mid cap stocks are holding up better than their larger peers. The Russell 2000 (+1.2%) and S&P Mid Cap 400 (+1.4%) sport some of the biggest gains for the major indices.
