Ukraine Has Right To 'Fire Back' At Russia With US-Provided Munitions As Kremlin Seeks Talks With White House
Portfolio Pulse from Michael Juliano
President Joe Biden has lifted restrictions on Ukraine's use of U.S.-provided munitions to fire back at Russia, as Russia continues to attack from within its borders. The Kremlin seeks comprehensive security talks with the White House, while the U.S. redirects air defense interceptor missiles to Ukraine. ETFs related to aerospace and defense showed mixed performance in response to these developments.
June 21, 2024 | 5:38 pm
News sentiment analysis
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NEGATIVE IMPACT
Invesco Aerospace & Defense ETF (NYSE:PPA) slipped 0.27% in mid-day trading, indicating a slight negative market reaction to the news of U.S. military support to Ukraine.
The slight decline in PPA suggests that investors may be concerned about the broader geopolitical risks or potential reallocations of defense resources.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
iShares U.S. Aerospace & Defense ETF (CBOE:ITA) remained flat, sliding 0.05% in mid-day trading despite news of increased U.S. military support to Ukraine.
The ETF's flat performance suggests that the market has already priced in the increased U.S. military support to Ukraine, or that other factors are offsetting the potential positive impact.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
SPDR S&P Aerospace & Defense ETF (NYSE:XAR) picked up 0.72% in mid-day trading, reflecting a positive market response to the U.S. redirecting air defense missiles to Ukraine.
The increase in XAR suggests that investors are optimistic about the potential benefits to defense companies from the U.S. redirecting air defense missiles to Ukraine.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70