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| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|
| +0.50 | +0.50 | +0.50 | +0.50 | +0.50 | +0.15 | +0.50 | +0.50 | +0.50 | +0.50 | +0.50 | +0.13 |
Budgets hit records above $716B amid great-power competition, and the December establishment of the Space Force created a new service and program stream, the peak of the Trump defense era.
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United Technologies and Raytheon are merging in an all-stock 'merger of equals' to form Raytheon Technologies, a new aerospace and defense leader with nearly $74 billion in annual sales. The deal, pending regulatory and shareholder approval, will position the combined entity as the second-largest U.S. aerospace firm behind Boeing, with operations consolidated into four key business units. United Technologies' CEO Greg Hayes will lead the new company, which aims to leverage expanded R&D and cost synergies to drive long-term value.
President Trump signed the FY2020 defense bill, creating the U.S. Space Force as an independent branch under the Department of the Air Force, marking the first new military service since 1947. The move consolidates existing Air Force space personnel and programs, with significant implications for defense spending, acquisition, and the future of military space operations. Market impacts include reallocation of Air Force budgets and growth opportunities for space-focused defense contractors.