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Trump defies Congress, vetoes defense policy bill
- Pres. Trump vetoes the $740B annual defense policy bill, calling it a
"gift" to China and Russia, without citing specific details.
- Trump has opposed a provision in the measure to rename military bases
that honor Confederate generals, and he has demanded that the bill
include
a provision to abolish a tech-liability shield.
- The defense bill, which typically passes the House and Senate with
strong bipartisan support and veto-proof majorities, has been signed into
law for nearly six consecutive decades.
- Among many items, the bill includes funding for 93 F-35 fighter jets
built by Lockheed Martin after the Trump administration requested 79, and
contract authority for as many as two nuclear Columbia-class submarines
made by General Dynamics.
- Investors do not appear too worried, as the Republican controlled
Senate previously passed the legislation 84-13, and the Democrat-run
House
cleared the bill 335-78 - both easy veto-proof margins.
- The big defense firms finished broadly higher today: LMT+1%, GD+1.1%,
NOC+1.4%, RTX+2.1%.
- ETFs: ITA, XAR, PPA, ROKT
- Lockheed Martin is a sound investment choice for the total return and
income investor with strong projected growth as worldwide defense budgets
increase, William Stamm writes in a bullish analysis posted recently on
Seeking Alpha.
|Today, 4:20 PM|66 Comments
Trump defies Congress, vetoes defense policy bill
- Pres. Trump vetoes the $740B annual defense policy bill, calling it a
"gift" to China and Russia, without citing specific details.
- Trump has opposed a provision in the measure to rename military bases
that honor Confederate generals, and he has demanded that the bill
include
a provision to abolish a tech-liability shield.
- The defense bill, which typically passes the House and Senate with
strong bipartisan support and veto-proof majorities, has been signed into
law for nearly six consecutive decades.
- Among many items, the bill includes funding for 93 F-35 fighter jets
built by Lockheed Martin after the Trump administration requested 79, and
contract authority for as many as two nuclear Columbia-class submarines
made by General Dynamics.
- Investors do not appear too worried, as the Republican controlled
Senate previously passed the legislation 84-13, and the Democrat-run
House
cleared the bill 335-78 - both easy veto-proof margins.
- The big defense firms finished broadly higher today: LMT+1%, GD+1.1%,
NOC+1.4%, RTX+2.1%.
- ETFs: ITA, XAR, PPA, ROKT
- Lockheed Martin is a sound investment choice for the total return and
income investor with strong projected growth as worldwide defense budgets
increase, William Stamm writes in a bullish analysis posted recently on
Seeking Alpha.
|Today, 4:20 PM|66 Comments
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