Here are this week's top trades from the "Halftime Report" investment committee.
Josh Brown buys Oil & Gas ETF (IEO) and Defense ETF (ITA)
As the Russian invasion of Ukraine has increased fear and uncertainty in markets around the globe, investors have been turning to sectors that will withstand a hostile market.
Ritholtz Wealth Management CEO Josh Brown sees upside in energy and defense stocks and expects them to outperform the S&P 500. He bought shares of iShares U.S. Oil & Gas Exploration & Production ETF (IEO) and iShares U.S. Aerospace & Defense ETF (ITA) on Tuesday.
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"My bet is over the next three years they're going to grow significantly relative to the overall stock market," Brown said Tuesday on CNBC's "Fast Money Halftime Report." "These two sectors are becoming way more important for our national security for our supply chains, and they've been ignored and underinvested in."
Defense sector stocks have performed well as safety plays in recent weeks, with the (ITA) ETF gaining 10% month to date, pacing for its best month since March of last year.
Jason Snipe sells Disney
Money Report
Dow stock Disney, down more than 6% in a month, faced several hurdles this week with the closure of the Shanghai Disney Resort amid a Covid outbreak in China, and planned employee walkouts in protest of CEO Bob Chapek's delayed denunciation of Florida's so-called Don't Say Gay bill.
Jason Snipe of Odyssey Capital Advisors, who bought shares of Disney in August of last year, on Thursday decided to sell his stake.
"I bought it admittedly at $175, somewhere in that neighborhood. And it's been a loss." Snipe said Thursday on "Fast Money Halftime Report."
He acknowledged the company's most recent earnings report was strong, but he sees better opportunities in the market right now.
"But my concern around Disney is, going forward, I think there's some margin headwinds," Snipe said. "There's some spending that they're going to be doing on Disney+. Guess what — the subs were great in the last quarter but it's a fragmented industry. It's very difficult to grow there and I just think there's places, there's other places, in the market for me to take that capital and spend."
Disney shares are 27% off their 52-week high.
Click here for the "Halftime Report" investment committee's current list of disclosures
