@Baswaid
Stocks rose yesterday (Monday) in the US financial markets, supported by the deals announced during President Trump's visit to Saudi Arabia. The American “Investor Business Daily” website stated that the “Dow Jones” index rose by 0.4% to 20892.5 points, and the “Standard & Poor’s” index rose by 0.4%, to record 2390.6 points.
The “Nasdaq” index of companies working in the field of technology increased at the level of 6110.5, with an increase of 0.4%.
And a large share of defense stocks rose yesterday (Monday) to early transactions that were sparked by more than $ 300 billion through the deals announced last Saturday between Saudi Arabia and the United States in the framework of Trump's official visit to the Kingdom of Saudi Arabia.
The gains centered around the shares of companies that concluded agreements with the Kingdom, with remarkable increases. Boeing topped the Dow Industrials in early trade, up 1.3%. Last Sunday, the company announced deals for up to 16 jet aircraft with Saudi Arabian Airlines, as well as a number of military-use aircraft.
General Electric rose 0.8%.
Raytheon shares opened up 1%. Last Saturday, the company specialized in the manufacture of space electronics announced a strategic partnership with the Saudi Military Industries Company related to air defense systems, smart munitions, and defense electronic security. Raytheon shares remain in a buying range, above 157.69 buying points.
As for Lockheed Martin, its shares had the highest percentage at the opening by 2%, in addition to the list of Saudi deals, which include $ 28 billion in missile defense systems, naval ships, and helicopters.
Oil Well Pharco added more than 1%, backed by a joint venture to supply Saudi Aramco with high-quality rigs and advanced drilling equipment, as well as training Saudi engineers over a period of 10 years.
Hassan Basweed (Jeddah)