Oil and Defense Stocks Rise; Fiserv Stablecoin Pop

On this episode of Stock Movers:
- ExxonMobil (XOM) is moving to the upside this morning amid rising oil prices from the latest developments in the Israel-Iran conflict. The conflict has raised concerns about oil prices and inflation, with oil rising by nearly 6% and US stock futures declining, and has also led to warnings about the risk to global energy supplies and the closure of the Strait of Hormuz.

- RTX Corp. (RTX) is higher this morning along with other defense stocks due to rising geopolitical risk in the Middle East. Iran vowed retaliation and continued attacks on Israel following US strikes on its nuclear facilities, fueling fears of a wider war in the Middle East and rattling global markets.

- Lockheed Martin (LMT) is also riding high this morning following RTX and other defense stocks. The US operation over the weekend targeted nuclear sites at Fordow, Natanz, and Isfahan, and included 125 aircraft, strikes by Tomahawk missiles, and the use of 14 Massive Ordnance Penetrator bombs.

- Fiserv Inc. (FI) is also in the green this morning after the Wall Street Journal reported the financial-technology company’s plans to launch a stablecoin and platform for its clients. The new platform is slated to be compatible with other stablecoins and enable connection with the other 10,000 financial institutions and millions of merchant locations, according to the Journal.

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