AeroVironment (AVAV) jumps 18% to new highs on news the Defense Department will accelerate warfare capabilities and increase production of drones by approving hundreds of American products.  AeroVironment makes the Switchblade 600 “Kamikaze” drone and recon drones. The stock is up over 60% year to date.

New possible tariffs for new countries and sectors are dragging down the markets. The pharmaceutical sector is facing possible tariffs if they don’t bring back production to the US. Bristol Myers (BMY) is down 3% and down over 15% for the year as they also face patent expiration for their cancer medicine, Opdivo.

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