Aerospace & Defense Stocks Weaken on Back of Government Shutdown, Fed Comments

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Aerospace and defense stocks fell Wednesday, with the S&P Aerospace & Defense Select Industry Index (SPSIAD) down 0.4%, on continued concern over the impact of the government shutdown, as the sector relies on government contracts.

Investors were also concerned by comments from Charles Evans, president and chief executive of the Federal Reserve Bank of Chicago, highlighting continued high jobless rates and disappointing U.S. economic growth.

The sector's decliners included Boeing Co. ( BA ), down 0.7%; Spirit AeroSystems Holdings Inc. ( SPR ), down 1.3%; Textron Inc. ( TXT ), down 1.1%; and General Dynamics Corp. ( GD ), down 0.1%.

AAR Corp. ( AIR ) bucked the downward trend, rising 0.6% as the company held its annual shareholder meeting.

SPSIAD is up 30% year to date, versus the S&P 500's 16% climb.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: AIR , BA , GD , SPR , TXT

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