The data was derived from an annual mergers and acquisitions survey by investment banker KippsDeSanto & Co. According to the survey, deal makers are optimistic about overall economic growth and mergers and acquisitions activity in 2019.

Additionally, more than 80 percent of survey respondents predict that the federal midterm election results won’t have a profound influence on mergers and acquisitions activity. Political analysts were expecting a split Congress following the post-midterm election results that saw the Democrats take control of the House of Representatives.

Political gridlock could force less government spending for defense initiatives, but the survey is showing otherwise.

Based on the survey results, defense spending is the most important factor influencing overall mergers and acquisitions deal activity within the U.S. DFEN was up 2.28 percent on Thursday as choppy trading in U.S. equities saw the major indexes fluctuate.

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