Defense Stocks Jump On Israel-Hamas Conflict: What's Going On?

The broader markets are under pressure Monday morning and defense stocks are rising as war breaks out in Israel and Gaza.

What To Know: Israel formally declared war on Hamas over the weekend after the Islamist militant group launched a coordinated surprise attack, killing hundreds. 

The conflict in the Middle East is sending defense stocks higher as investors weigh the potential for the Israel-Hamas war to escalate. 

The Pentagon on Sunday announced that it would send weapons and warships in support of Israel, per the New York Times. 

Defense stocks including Lockheed Martin Corp LMT, L3Harris Technologies Inc LHX, General Dynamics Corp GD, Northrop Grumman Corp NOC and RTX Corp RTX were all moving higher following this weekend's chaos.

At time of publication, Lockheed was up 4.62% at $419.25, L3Harris was up 3.12% at $169, General Dynamics was up 3.1% at $226.75, Northrop Grumman was up 3.26% at $437.02 and RTX was up 3.91% at $72.50. 

Read Next: 'No Less Than Israel's 9/11': Political Experts React To Deadly Hamas Attack

Photo: Israel Defense Forces from Flickr.