Trump Victory Buoys Defense Stocks

While the surprise victory of Republican President-Elect Donald Trump played havoc with much of the world’s stock markets, defense companies initially are faring well. The Wall Street Journal reported that the British firm BAE Systems and the French Thales Group reported significant gains on Nov. 9, the morning after the election. Trump promised to increase military spending and make allies bear a greater share of the financial costs of maintaining international security during his campaign.