JPMorgan's $1.5 Trillion Initiative to Finance U.S. Shipbuilding and Defense Could Be a Tailwind for Industrial and Defense Stocks
Government budgets and private-sector financing are converging around critical infrastructure, creating a long runway for companies in these industries.
Overview
JPMorgan Chase (NYSE: JPM) has launched a 10-year, $1.5 trillion Security and Resilience Initiative to finance and invest in industries crucial to U.S. national security, supply chain independence, and infrastructure. The bank looks to invest in a range of industries, including critical minerals, robotics, energy, and defense.
JPMorgan CEO Jamie Dimon stated, "It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products, and manufacturing -- all of which are essential for our national security." With financial support from JPMorgan Chase as a tailwind, here are two stocks that stand to benefit.
JPMorgan Chase chairman and CEO Jamie Dimon. Image source: JPMorgan Chase.
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Originally published at www.fool.com.