Why ExxonMobil, Conoco Phillips, and Lockheed Martin Rallied on a Down Day for the Markets

Heightened tensions in the Middle East caused the market to fall, but oil and defense stocks to rise. Shares of oil and gas majors ExxonMobil (XOM 2.29%) and Conoco Phillips (COP 3.50%), as well as defense contractor Lockheed Martin (LMT 2.83%), rallied on Tuesday, up 2.8%, 4.2%, and 3.5%, respectively, as of 1:17 p.m. ET, even as the broader indices were down between 1% and 2% at that time. Fortunately for their shareholders, but unfortunately for other sectors and the world, these critical companies saw t ...