Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History

Published 12 Oct 2026, 08:31 UTC. Updated 12 Oct 2026, 10:11 UTC.

Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History The Motley Fool

Directly affected

No company is named in this report.

Indirectly affected

LMT Lockheed Martin
Defense contractors get more work when conflict spending rises
RTX RTX
Defense contractors get more work when conflict spending rises
NOC Northrop Grumman
Defense contractors get more work when conflict spending rises
GD General Dynamics
Defense contractors get more work when conflict spending rises
TLT iShares 20+ Year Treasury Bond
Long-term bonds move when yields change
IEF iShares 7-10 Year Treasury Bond
Treasury bonds move when yields change
ITA iShares U.S. Aerospace & Defense
A fund of aerospace and defense companies
BA Boeing
Defense and aerospace orders move with conflict spending
LHX L3Harris
Defense contractors get more work when conflict spending rises
HII Huntington Ingalls
Shipyards benefit when naval spending rises

Price reaction, T-5 to T+3

Ticker	T-5	T-3	T-1	T0	T+1	T+2	T+3
LMT	—	—	—	—	—	—	—
RTX	—	—	—	—	—	—	—
NOC	—	—	—	—	—	—	—
GD	+0.12%	-1.46%	—	+1.14%	+0.35%	+0.99%	+1.70%
TLT	—	—	—	—	—	—	—
IEF	-0.55%	-0.31%	—	+0.04%	+0.16%	+0.34%	+1.06%
ITA	+0.06%	-1.47%	—	-0.28%	-1.26%	-1.17%	+0.09%
BA	+1.20%	-1.13%	—	-0.50%	-2.05%	-3.08%	-0.90%
LHX	—	—	—	—	—	—	—
HII	+0.73%	-1.48%	—	-0.20%	-2.61%	-0.05%	+1.02%

Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History The Motley Fool

Source: The Motley Fool

The price since 12 Oct 2026: Spdr Series Trust (XAR) versus the S&P 500

Since the first closing price after “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History,” Spdr Series Trust (XAR) is +0.06%. The S&P 500 fund (SPY) is -1.47% over the same days, a +1.53% difference versus the market. industrial stocks (XLI) is -1.14%, a +1.21% difference versus that group of stocks.

Company	When	Move	Status
BA	that day	-0.50%	final price
BA	the next day	-2.05%	final price
BA	two days later	-3.08%	final price
BA	three days later	-0.90%	final price
BA	three days earlier	-1.13%	final price
BA	five days earlier	+1.20%	final price
GD	that day	+1.14%	final price
GD	the next day	+0.35%	final price
GD	two days later	+0.99%	final price
GD	three days later	+1.70%	final price
GD	three days earlier	-1.46%	final price
GD	five days earlier	+0.12%	final price
HII	that day	-0.20%	final price
HII	the next day	-2.61%	final price
HII	two days later	-0.05%	final price
HII	three days later	+1.02%	final price
HII	three days earlier	-1.48%	final price
HII	five days earlier	+0.73%	final price
IEF	that day	+0.04%	final price
IEF	the next day	+0.16%	final price
IEF	two days later	+0.34%	final price
IEF	three days later	+1.06%	final price
IEF	three days earlier	-0.31%	final price
IEF	five days earlier	-0.55%	final price
IShares U.S. Aerospace & Defense ETF (ITA)	that day	-0.28%	final price
IShares U.S. Aerospace & Defense ETF (ITA)	the next day	-1.26%	final price
IShares U.S. Aerospace & Defense ETF (ITA)	two days later	-1.17%	final price
IShares U.S. Aerospace & Defense ETF (ITA)	three days later	+0.09%	final price
IShares U.S. Aerospace & Defense ETF (ITA)	three days earlier	-1.47%	final price
IShares U.S. Aerospace & Defense ETF (ITA)	five days earlier	+0.06%	final price

XAR

SPY

XLI

Companies in defense around Spdr Series Trust (XAR)

Companies carried with this story

XAR Spdr Series Trust
For “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History,” Spdr Series Trust (XAR) is linked, with no stored direction, medium confidence. Reason on file: Material security escalation can alter defense demand expectations and risk premia
ITA IShares U.S. Aerospace & Defense ETF
IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence in the 12 Oct 2026 story “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History.” Reason on file: Material security escalation can alter defense demand expectations and risk premia
GLD Spdr Gold Trust
In “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History,” Spdr Gold Trust (GLD) is linked, with no stored direction, medium confidence. Reason on file: Material security escalation can affect safe-haven and macro-risk proxies; this is a monitoring relationship, not a directional prediction
TLT Ishares Tr
For “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History,” Ishares Tr (TLT) is linked, with no stored direction, medium confidence. Reason on file: Material security escalation can affect safe-haven and macro-risk proxies; this is a monitoring relationship, not a directional prediction
UUP Invesco DB US Dollar Index Bullish Fund
Invesco DB US Dollar Index Bullish Fund (UUP) is linked, with no stored direction, medium confidence in the 12 Oct 2026 story “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History.” Reason on file: Material security escalation can affect safe-haven and macro-risk proxies; this is a monitoring relationship, not a directional prediction
AA Alcoa
Alcoa (AA) is linked, with no stored direction, medium confidence in the 12 Oct 2026 story “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History.” Reason on file: GA selected AA as a RELATED security because its curated list / industry / sector context matches this event (curated-list=history). This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
AAL American Airlines Group
In “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History,” American Airlines Group (AAL) is linked, with no stored direction, medium confidence. Reason on file: GA selected AAL as a RELATED security because its curated list / industry / sector context matches this event (curated-list=history). This is an explainable DERIVED market relationship, not a claim that the security was named in the source article
AAOI Applied Optoelectronics
For “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History,” Applied Optoelectronics (AAOI) is linked, with no stored direction, medium confidence. Reason on file: GA selected AAOI as a RELATED security because its curated list / industry / sector context matches this event (curated-list=history). This is an explainable DERIVED market relationship, not a claim that the security was named in the source article

How defense news reaches Spdr Series Trust (XAR)

Spdr Series Trust (XAR) is the company in “Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History,” the 12 Oct 2026 Defense story.

Spdr Series Trust (XAR) is on the page because Material security escalation can alter defense demand expectations and risk premia

A second company, IShares U.S. Aerospace & Defense ETF (ITA), is listed for a different reason: Material security escalation can alter defense demand expectations and risk premia

Dates and price levels for Spdr Series Trust (XAR)

GLD traded between 373.41 and 400.78 across 20 sessions. The latest close on file is 379.67. ITA traded between 201.08 and 217.79 across 20 sessions. The latest close on file is 207.60. XAR traded between 216.28 and 245.40 across 20 sessions. The latest close on file is 223.20.

A simple score for Spdr Series Trust (XAR)

46 out of 100

“Fed Chair Kevin Warsh and the FOMC Just Fired a Warning Shot at the Second-Priciest Stock Market in History” scores 46 out of 100. The score uses 1 sources, and 11 linked companies.