Geopolitics Alpha

Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis

Published . Updated .

Key takeaways

  • Exposed: ITA, XAR, EWZ, EMB, EMLC
  • Market reaction: XAR +1.2% on the day (still updating); ITA +0.6% on the day (still updating); EEM +2.8% on the day (still updating)

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DEFENSELula Scolds Leaders as War andInflation Eclipse Climate CrisisGEOPOLITICS ALPHA

This report is about defense and Brazil.

Directly affected

  • No company is named in this report.

Indirectly affected

  • ITA iShares U.S. Aerospace & Defense ETF+1.1% 30d

    iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.

  • XAR SPDR S&P Aerospace & Defense ETF-3.6% 30d

    SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story.

  • EWZ iShares MSCI Brazil ETF-15.1% 30d

    iShares MSCI Brazil ETF holds stocks listed in Brazil, which this story is about (“lula”).

  • EMB iShares J.P. Morgan USD Emerging Markets Bond ETF+0.3% 6d

    iShares J.P. Morgan USD Emerging Markets Bond ETF holds emerging-market government bonds, which react to inflation and interest-rate news like this one in Brazil

  • EMLC VanEck J.P. Morgan EM Local Currency Bond ETF-2.0% 30d

    VanEck J.P. Morgan EM Local Currency Bond ETF holds emerging-market bonds in local currencies, which move with rate and currency news like this from Brazil.

  • EEM iShares MSCI Emerging Markets ETF-2.9% 15d

    iShares MSCI Emerging Markets ETF is a broad fund of emerging-market stocks that includes Brazil

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
ITA-2.04%-4.68%base+0.59%after closeafter closeafter close
XAR-4.70%-5.20%base+1.19%after closeafter closeafter close
EWZ+0.37%-0.44%base+0.87%after closeafter closeafter close
EMB+0.39%-0.03%base-0.01%after closeafter closeafter close
EMLC+0.35%+0.04%base-0.33%after closeafter closeafter close
EEM+1.72%-2.08%base+2.79%after closeafter closeafter close

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.

Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis Bloomberg.com

Source: Bloomberg

IShares U.S. Aerospace & Defense ETF (ITA) since this story, compared with the market

CompanyWhenMoveStatus
Ishares Tr (EEM)that day+2.79%still updating
Ishares Tr (EEM)three days earlier-2.08%final price
Ishares Tr (EEM)five days earlier+1.72%final price
Ishares Tr (EMB)that day-0.01%still updating
Ishares Tr (EMB)three days earlier-0.03%final price
Ishares Tr (EMB)five days earlier+0.39%final price
Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC)that day-0.33%still updating
Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC)three days earlier+0.04%final price
Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC)five days earlier+0.35%final price
Ishares Msci Brazil Etf (EWZ)that day+0.87%still updating
Ishares Msci Brazil Etf (EWZ)three days earlier-0.44%final price
Ishares Msci Brazil Etf (EWZ)five days earlier+0.37%final price
IShares U.S. Aerospace & Defense ETF (ITA)that day+0.59%still updating
IShares U.S. Aerospace & Defense ETF (ITA)three days earlier-4.68%final price
IShares U.S. Aerospace & Defense ETF (ITA)five days earlier-2.04%final price
Spdr Series Trust (XAR)that day+1.19%still updating
Spdr Series Trust (XAR)three days earlier-5.20%final price
Spdr Series Trust (XAR)five days earlier-4.70%final price

Who collects and who pays in defense

Companies mentioned with this story

  • ITA IShares U.S. Aerospace & Defense ETF

    IShares U.S. Aerospace & Defense ETF (ITA) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis.” Reason on file: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story

  • XAR Spdr Series Trust

    Spdr Series Trust (XAR) is linked, with no stored direction, medium confidence in the 11 Nov 2026 story “Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis.” Reason on file: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story

  • EWZ Ishares Msci Brazil Etf

    For “Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis,” Ishares Msci Brazil Etf (EWZ) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Brazil ETF holds stocks listed in Brazil, which this story is about (“lula”)

  • EMB Ishares Tr

    For “Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis,” Ishares Tr (EMB) is linked, with no stored direction, medium confidence. Reason on file: iShares J.P. Morgan USD Emerging Markets Bond ETF holds emerging-market government bonds, which react to inflation and interest-rate news like this one in Brazil

  • EMLC Vaneck J. P. Morgan Em Local Currency Bond Etf

    For “Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis,” Vaneck J. P. Morgan Em Local Currency Bond Etf (EMLC) is linked, with no stored direction, medium confidence. Reason on file: VanEck J.P. Morgan EM Local Currency Bond ETF holds emerging-market bonds in local currencies, which move with rate and currency news like this from Brazil

  • EEM Ishares Tr

    For “Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis,” Ishares Tr (EEM) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI Emerging Markets ETF is a broad fund of emerging-market stocks that includes Brazil

How defense news reaches IShares U.S. Aerospace & Defense ETF (ITA)

On 11 Nov 2026, “Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis” is the story that connects IShares U.S. Aerospace & Defense ETF (ITA) to Defense.

The link for IShares U.S. Aerospace & Defense ETF (ITA) is this: iShares U.S. Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story

A second company, Spdr Series Trust (XAR), is listed for a different reason: SPDR S&P Aerospace & Defense ETF: it holds defense and aerospace contractors. Linked by “war” (defense) in this story

What this defense story puts on the calendar

EWZ traded between 31.40 and 43.77 across 20 sessions. The latest close on file is 31.74. ITA traded between 197.59 and 218.73 across 20 sessions. The latest close on file is 216.38. XAR traded between 210.89 and 237.55 across 20 sessions. The latest close on file is 231.04.

How solid the defense case looks

46 out of 100Price not final

“Lula Scolds Leaders as War and Inflation Eclipse Climate Crisis” scores 46 out of 100. The score uses 1 sources, and 6 linked companies. The price is not final yet.