The U.S. withdrawal from the Iran deal adds further uncertainty to Middle East policy.
Ian Winer, co-head of Equities at Wedbush Securities thinks the defense sector is a buy amid an increase in U.S. spending on defense.
"I would buy them whether it's on [the Iran deal exit news] or just on the fact that we're spending $760 billion on defense this year. My sense is that's one group where you're in a secular bull market at least for the next few years as these contracts are put in place."
Shares of Raytheon (RTN) , a holding of Jim Cramer's charitable trust Action Alerts PLUS, are up 13% since the start of the year.
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