Live news: Asian equities follow US stocks lower after strong retail data

Lockheed Martin executives are “optimistic” about the US providing additional funding for several geopolitical hotspots as Congress is embroiled in fights over the House speakership and the domestic budget.

In any budget scenario, “there continues to be the option for supplemental requests related to support Ukraine, Israel and potentially Taiwan,” chief executive Jim Taiclet told analysts on Tuesday.

Lockheed’s missiles business in particular has been boosted following the war in Ukraine, thanks to demand for tactical strike missiles. Chief financial officer Jay Malave said that based on orders for other weapons, there is a “foundation for growth over the coming years.”

Sales within Lockheed’s aeronautics business fell 5 per cent, owing to lower sales of its F-35 fighter jet.