The aerospace and defense sector, as measured by the ITA ETF, is experiencing a significant rally today. The primary driver is the U.S. House of Representatives' passage of a $1.15 trillion defense spending bill for fiscal year 2027. This substantial proposed budget increase is a direct catalyst for the industry. Boosting sentiment further, key sector components RTX and Lockheed Martin both reported strong second-quarter earnings and raised their full-year financial forecasts, citing high demand for military systems and aircraft maintenance.