Newscasts - Trading at Noon: Markets turn defensive

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_6p9a7e4y&referenceId=1_6p9a7e4y&pageId=Newscasts Source: 'Reuters - Business videos' Description: A defensive mood washed across the markets on Tuesday morning, with money moving into defence stocks, government bonds and gold after Russian President Vladimir Putin lowered the country's threshold for using nuclear weapons. Short Link: https://refini.tv/4hWZP4B Video Transcript: The market gets defensive as Vladimir Putin raises tensions. Welcome to Trading at Noon. I'm Elena Casas. Wall Street slid at the open this Tuesday, as the VIX Volatility Index briefly reached its highest level since Election Day and defensive money rushes into safe haven assets. Shares in defense companies, including RTX and Lockheed Martin gained, as did government bonds and the price of gold after Russian President Vladimir Putin warned that Russia could consider using nuclear weapons if it were subject to a conventional missile assault supported by a nuclear power. Ukraine says it has carried out its first attack inside Russia, with the US-made ATACMS missile after the Biden Administration approved their use at the weekend. Ukraine today marks 1,000 days since Russia's full-scale invasion in February 2022, and NATO is warning that defense spending must increase. We have to ramp up the defense industry and luckily NATO and the EU are working closely together to make sure that the defense industrial base transatlantic will be strengthened over the coming months. We really have to do this to replenish our stockpiles, to make sure that we stand ready to oppose any adversary. In corporate news, Walmart raised its annual sales and profit forecast for the third consecutive quarter, betting on strong holiday spending. The retail giant said customers are spending more as inflation ebbs and its market share is growing in every income group. It's now forecasting net sales in fiscal 2025 will rise between 4.8% and 5.1%. Lowe's also raised forecasts, saying it's seen a boost this quarter from homeowners building back after Hurricanes Helene and Milton. Although big-ticket spending was still low. It has been weak all year as people have been reluctant to spend on DIY amid high interest rates. Those hurricanes depressed single-family homebuilding in October. It plunged 6.9%, although the number of new building permits rose slightly. Higher borrowing costs continue to weigh on the US housing market, with existing homeowners reluctant to move. The price of oil has steadied today, although those concerns about the war in Ukraine are supporting crude. A power outage at Western Europe's largest oilfield off the coast of Norway lifted prices by 3% on Monday, but partial production resumed there this morning. And that's Trading at Noon.