Cramer Likes Defense Stocks

On CNBC's "Mad Money," Jim Cramer spoke about the defense stocks. He said that the defense industry is relatively immune to the problems of the economy. The sector is levered to the government spending and neither party wants to cut the Pentagon budget in the election year, said Cramer.

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Raytheon Technologies Corp RTX and L3Harris Technologies Inc LHX are his favorite stocks in the sector, but he also likes Lockheed Martin Corporation LMT.

Northrop Grumman Corporation NOC is his least favorite because it didn't get hit as hard as others when the market started to roll over. It has also rebounded and erased most of its losses.