Gunmaker shares surge
With all major markets in a severe sell-off Monday, shares of companies that make guns surged as new data pointed to strong sales at the close of 2015, a year marked by mass shootings and new political pressure to tighten regulations. President Barack Obama is slated to finalize new executive actions aimed at curbing gun violence and unregulated sales.
Recently released numbers from the National Instant Criminal Background Check System show that background checks jumped about 38 percent last month compared with December 2014.
Shares of Sturm, Ruger & Co. rose 3 percent. Stock in the gunmaker hit a 52week high last month. Shares of Smith & Wesson rose almost 6 percent Monday, one of the biggest percentage gains over the past year. Its shares hit an all-time high two weeks ago.