Zero Time Difference | Amid the Flames of War: Which 'Stock Market Gods' Have Been Forged?

The U.S.-Israeli military campaign against Iran has entered its second month. Missiles streak across battlefields, shipping through the Strait of Hormuz is disrupted, global oil prices surge, and stock markets worldwide tremble. War disrupts and damages the global economy. Yet on Wall Street, a group of stocks is soaring against the market trend. Beyond energy-related stocks, defense contractors such as Raytheon and Lockheed Martin have become the brightest stars in the U.S. equity market. Since signals emerged that the U.S. might launch military action against Iran, U.S. defense stocks have experienced frequent volatility. Indeed, each escalation in Middle Eastern tensions has triggered another wave of gains for defense stocks. At times, single-day gains exceeded 9%, with cumulative gains approaching 25%—making defense stocks, alongside energy stocks, the two top-performing sectors in the U.S. market amid broader declines. Not only are major defense contractors reaping enormous profits, but U.S. lawmakers’ wallets are also swelling. According to U.S. media reports, Kevin Hern, a Republican congressman who chairs the Republican Budget and Appropriations Task Force, holds multiple large-scale transactions in defense stocks. Marjorie Taylor Greene, a former Republican member of the U.S. House of Representatives, purchased Lockheed Martin shares two days before the outbreak of the Russia-Ukraine conflict—and publicly declared on social media: “War is big business for our leaders.” Why does the United States constantly wage war? Because those who can decide to go to war—and those who can authorize it—profit directly from war. Earlier this year, Newsweek cited data from the Armed Conflict Location & Event Data Project (ACLED), which monitors global conflicts, reporting that between January 20, 2025, and January 5, 2026, the United States conducted 573 airstrikes and drone strikes.

U.S. Republicans Push a 'Stock Ban': Strictly Prohibiting Members of Congress from Buying Individual Stocks and Severely Punishing Insider Trading

While banning members of Congress from purchasing individual stocks, the bill still permits them to buy diversified mutual funds and exchange-traded funds. Existing individual stock holdings need not be forcibly liquidated; however, a mandatory pre-disclosure mechanism is established: lawmakers planning to sell specific individual stocks must submit public notices at least seven days—but no more than fourteen days—in advance. If they change their minds, they may withdraw the notice before the specified deadline. The proposal significantly increases penalties for violations—including forfeiture of a portion of the transaction value and recovery of profits. If a lawmaker violates the rules, the House Committee on Ethics will impose a fine equal to either $2,000 or 10% of the investment’s value—whichever is greater—and may recover all profits generated from the prohibited transaction. Spouses and minor children of lawmakers are likewise restricted from purchasing securities of publicly traded companies. Exceptions exist, however, including ownership interests in small businesses, certain trust-held investments, employment-based compensation received by spouses or children, and cases where spouses or children work professionally managing trades or funds for others. The legislation does not cover other investment types, such as bonds or commodities. Consensus Within the Republican Party The bill has received full support from Republican leadership in the House of Representatives. House Speaker Johnson stated in a press release: "No member of Congress should be permitted to profit from nonpublic information. This legislation represents a critical step toward restoring the American people’s trust in Congress. Both Republicans and Democrats will have opportunities to voice their opinions and express support." House Majority Leader Steve Scalise, a Republican representative from Louisiana, said: "I have worked closely with Chairman Steil, who has tirelessly pursued the development of legislation banning stock trading by members of Congress. I hope this bill proceeds swiftly to a full House vote after committee approval." The bill enjoys broad backing across Republican factions. Anna Paulina Luna, a Republican representative from Florida who previously advanced a stock-trading ban via discharge petition, is one of the bill’s original co-sponsors. Chip Roy, a Texas Republican and member of the House Freedom Caucus, and Mike Lawler, a moderate New York Republican who has long advocated stricter trading rules, also voiced support. Roy stated: "The public should be able to trust the motives of their congressional representatives—but active stock trading by certain lawmakers has already eroded that trust."

Rep. Kevin Hern Sells Shares of Linde PLC

Oct 15, 2026

Representative Kevin Hern sold $15,001–$50,000 of Linde PLC stock via his family trust. The company recently reported strong financial results exceeding analyst expectations.

MarketBeat

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