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Global defense stocks were higher early Monday, amid fears of an expanding Middle East conflict. Europe's Hensoldt and BAE Systems were among the top performers in the Stoxx 600, while U.S. firms Lockheed Martin and Northrop Grumman rose in premarket trading.

Bright Futures Wealth Management LLC. purchased a new stake in General Dynamics Corporation (NYSE: GD) during the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,817 shares of the aerospace company's stock, valued at approximately $1,302,000. Other large investors

Investors flocked to defense stocks in Europe as the conflict widens and missile technology comes into focus.

The overall magnitude and length of the effect on the stock market of the U.S. war with Iran will depend on how investors and traders view the potential longevity and severity of the military action. Select oil, gold and silver, and defense stocks are likely to get a boost, at least in the short term, from the war with Iran.

Iran's supreme leader, Ayatollah Ali Khamenei, has been killed in a joint military strike. Khamenei assumed power following the death of Ayatollah Ruhollah Khomeini in 1989.