RTX - Defense sector shakes off election uncertainty

Those looking for election 2020 stocks need to look no further than the defense sector, which soared yesterday on the eve of Election Day.It's one of the industries that shouldn't be affected by a drawn-out or contested result, with both candidates pledging to put more resources into military spending."Defense spending is always a bipartisan issue," analysts at Goldman Sachs said in a research note. "Both sides want to spend money on defense. To what extent they will that's a different story but both sides want to spend money on defense."Joe Biden said he may increase spending in areas the Pentagon "desperately needs to innovate" such as "unmanned capacity, cyber and IT." His advisors have also suggested that "certain areas the [military] budget is going to have to be increased."Defense stocks have climbed sharply overall under President Trump, even with the COVID-related selloff hitting the sector, and generally tend to do

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Defense sector shakes off election uncertainty