See opportunities in European defense & U.S. LNG : RGA Investments

RGA Investments' Rick Gardner says rising European defense commitments — with EU members reportedly eyeing 3–5% of GDP versus the traditional 2% — could underpin European defense equities, which he views as relatively cheaper than U.S. peers. That dynamic may support indices tracking European stocks. Separately, Gardner highlights potential upside for U.S. LNG exporters, producers and refiners if Europe shifts away from Gulf suppliers (a move seen after the 2022 Russia–Ukraine shock) or due to disruptions like a Strait of Hormuz closure. Overall, the commentary points to bullish structural opportunities in European defense and U.S. energy exporters, while noting sector volatility.