US defense stocks advance as Middle East war intensifies

U.S. defense stocks advance on Fri as Middle East war heats up

President Trump on Fri demanded Iran's "unconditional surrender", a dramatic escalation a week into the war he launched alongside Israel, as he plans to meet with defense contractor executives today and press them to boost production to replenish supplies

Lockheed Martin LMT.N up 2.5%, Northrop Grumman NOC.N up 2.2%, RTX RTX.N up 2.8%

Drone makers rising on the session: Kratos Defense & Security Solutions KTOS.O, which makes the fighter-jet-like Valkyrie drone, up >4%, AeroVironment AVAV.O, known for its Switchblade kamikaze drone, up ~6%, Red Cat Holding RCAT.O up ~4%

U.S.-listed shares of Israel's Elbit Systems ESLT.O, which makes military drones, up 7%

NYSE Arca Defense index .DFII up about 2% on Fri, extending YTD gain to nearly 18%