While The Fiscal Cliff Deadline Nears, Defense Stocks Surprisingly Soar

While The Fiscal Cliff Deadline Nears, Defense Stocks Surprisingly Soar
News
Like Us On Facebook
Like Us On Facebook

Here’s something that most people did not expect to see. With only days until the Fiscal Cliff is reached, defense stocks (measured by the ITA ETF) are at some of the highest points they have been all year.

This is shocking, seeing as how everyone and their mother expected that with no Fiscal Cliff deal, the stocks would plummet.

Maybe the market is still expected that a deal will be reached in the near future.

Then again, maybe the theory of plummeting defense stocks without a deal was simply wrong to begin with.

Paul Hudson | Elite.

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Robert Gordon

Hailing from Queens, New York, Robert Gordon can be found running the World News section of Elite Daily or roaming NYC on photographic expeditions. A diehard sports fan who’s had his heart constantly broken by the Knicks and Mets, Robert can be seen donning orange and blue attire all throughout the city. Under the moniker Robbie Fingers, he creates visuals from music videos, to short films with his partner, ManuallFocus.

More In News

World Gillian Fuller

This Proposal Is Absolutely Perfect

When Tiffany flew out to California to visit her long-distance boyfriend of over three years, Levy, she thought she was supposed to be attending a military event for Levy’s father. She had no idea her boyfriend was planning the sweetest proposal ever. Levy had set up a scavenger hunt of sorts for Tiffany, surprising her […]

World Sean Levinson

why chickens are so much bigger

Canadian scientists have discovered why today’s chickens are so much bigger than those of previous decades. A team led by University of Alberta poultry science teacher Martin Zuidhof raised three different breeds of chicken on the exact same diet. One was from 1957, one from 1978 and the last from 2005. The 2005 breed grew […]

World Emily Arata

Female Gym Teacher Arrested For Sleeping With Student Multiple Times

When Megan Mahoney offered to coach one of her young, male students in basketball, she apparently had more than athletics in mind. The 24-year-old Catholic school teacher from Staten Island has been charged with 30 counts of statutory rape and four of criminal sexual acts for her relationship with a 16-year-old student, which happened between […]

World Sean Levinson

guy fakes coma for 2 years

A U.K. man pretended to be a comatose quadriplegic for two years to avoid being prosecuted for a crime. But 47-year-old Alan Knight’s scam was exposed when CCTV footage caught him driving his car and walking around a supermarket. The married father of three stole the equivalent of $64,000 from an elderly neighbor’s bank account, […]

Technology Kylie McConville

10 iPhone Apps That Have Made Our Lives So Much Easier

Curious what we ever did before we had iPhones to solve every problem we faced? Yeah, us too. Since their debut on the market, the iPhone has singlehandedly revolutionized the way we communicate, do business and see the world. They’ve changed every aspect of our day to day: from the way we eat, to the way […]

Also On Elite

Dating

Rejection Builds Character: How To Persevere When You’ve Been Turned Away

Rejection is a difficult feeling to overcome. Whether that feeling registers immediately, or it takes you a while to understand why you were turned away from an opportunity, it’s hard to deal with that emotion. Unfortunately, rejection is part of everyone’s life, at least for a while. As a 20-something trying to figure out your […]

World

Old Man Absolutely Destroys Young MMA Fighter In Mere Seconds (Video)

A young MMA fighter laughs as an old man steps into the ring with him, but it’s the younger one’s friends who are laughing when he gets dropped moments later. The older man carefully stalks and times his opponent, who doesn’t take the sparring contest seriously until the old man fires off a vicious right […]

Envision

Incredible Underwater Sculpture Carries The Ocean On Its Back (Photos)

You’re going to want to make sure you’re wearing a clear pair of goggles if you ever find yourself swimming off the coast of Nassau in the Bahamas. I mean, who would want to collide head-first with an 18-foot-tall underwater statue?! Because that’s what’s holding the ocean up, thanks to Jason deCaires Taylor. Taylor, a sculpture artist, […]

World

Marijuana-Infused Soda Is A Thing, But The Bottles Keep Exploding

Mirth Provisions‘ cannabis-infused sparkling pomegranate soda is getting tons of press as of late, but not for the reasons you’d think. The beverage, which is legal in states allowing recreational marijuana usage, is exploding — literally. Top Shelf Cannabis in Bellingham, Washington ordered 331 bottles of the soda, but after selling just 10, the glass bottles began […]