New York, March 2, 2026, 11:01 a.m. ET — Regular session
- Lockheed Martin shares pushed higher in late-morning New York trading, pulling ahead even as the broader market drifted lower.
- Defense contractor stocks caught a bid, with new Middle East clashes sending oil higher and prompting investors to seek out “safer” corners of the market.
- Iran news is on traders’ radar, with Friday’s U.S. jobs numbers also in focus for the next signal.
Lockheed Martin Corp (LMT) climbed 3.0% to $674.58 as of 10:44 a.m. ET Monday, after reaching $692 earlier. RTX and Northrop Grumman both saw gains too, each advancing roughly 4%.
Defense stocks moved higher after U.S. and Israeli forces struck Iran over the weekend, killing Supreme Leader Ali Khamenei, Reuters said. Iran fired missiles at Israel in response. Oil giants and major trading firms paused crude and fuel shipments through the Strait of Hormuz. Looking ahead, RBC Capital’s Helima Croft said what happens next depends on whether Iran’s Revolutionary Guards, or IRGC, choose to escalate further.
Lockheed shares surged even as Wall Street’s top indexes slipped and crude soared over 8%—a combination that’s putting inflation back on traders’ minds. “The market is taking it relatively well… it’s not another weekend event,” said Adam Turnquist, LPL Financial’s chief technical strategist. Reuters
Defense shares managed to hold up in a session that saw airlines and travel stocks take a hit, as investors shifted cash into classic safe plays like the dollar and precious metals. The core worry: pricier oil could seep into costs throughout the economy, adding another wrinkle for interest rates.
Lockheed’s latest move drops right in the middle of an old argument in the industry: what do wars really deliver for defense companies? The company’s F-35 fighter jet still accounts for about a quarter of its revenue, Barron’s points out. Yet, there’s a running debate among investors—do less expensive autonomous systems grab a larger share of future defense budgets?
Lockheed in February announced a quarterly dividend of $3.45 per share, set for payment on March 27 to shareholders registered as of the close on March 2.
Still, that geopolitical bump isn’t always sticky. A whiff of easing tensions, or budget moves that pull cash from pricier defense hardware, could take the air out fast—particularly if oil keeps lurching and dragging broader markets with it.
Investors are eyeing this Friday’s U.S. February jobs data, with the employment report landing March 6 at 8:30 a.m. ET. Any unexpected number has the potential to jolt rate bets and shape risk sentiment for the days ahead.
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