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First contracts
The next steps in building the "Golden Dome" missile defense shield are being taken after the ambitious project was unveiled back in May. The next-generation system would feature a sensor and communications network that could detect threats much earlier and take out enemy missiles with space-based interceptors. Hopes are for the proposed $175B project to be operational in 2029, but some caution that the timeframe might be wishful thinking.
Snapshot: Nearly $25B was already appropriated for Golden Dome in the "One Big Beautiful Bill Act" that passed in July. It included cash for the development and procurement of space-based sensors, intercept capabilities, and tracking and radar improvements. The U.S. Space Force has now awarded the first contracts for the program, which cover the building of prototype space-based interceptors.
Each award was reportedly valued at under $9M, keeping them below the disclosure thresholds required for larger Pentagon programs. Officials said the evaluation process was extensive and emphasized that the goal is to move quickly with industry partners to design, test, and deliver early interceptor models. The Space Force didn’t release the names of the selected contractors, citing heightened security requirements for the effort, but reports suggest that Northrop Grumman (NOC), True Anomaly, Lockheed Martin (LMT), and Anduril are involved.
"The selection process was robust and thorough. The Space Force will lead a fast-paced effort in partnership with industry to develop, demonstrate and deliver prototype interceptors," a service branch spokesperson said in a statement. Golden Dome is run by Space Force Gen. Michael Guetlein, who reports directly to Deputy Defense Secretary Steve Feinberg.
Final frontier superiority: Broader deployment of missile shields, like the THAAD system, has already gone some of the way in replacing doctrines like "mutual assured destruction." The Golden Dome would take this a step further by being able to target or intercept missiles during the early stages of flight, which might trigger a fresh arms race in space and bring a rapid end to the Outer Space Treaty. However, that era may already be over. There are increasing military developments by U.S. adversaries, like Russian satellite-based weapons, coordinated drone and missile swarms, and Chinese nuclear-capable hypersonic glide vehicles. (15 comments)
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What else is happening...
Key themes shaping the markets as 2026 approaches.
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OPEC+ likely to keep output unchanged, baseline plan in focus.
Today's Markets
In Asia, Japan +1.9%. Hong Kong +0.1%. China -0.2%. India +1.2%.
In Europe, at midday, London +0.2%. Paris +0.4%. Frankfurt +0.4%.
Futures at 6:30, Dow +0.2%. S&P +0.3%. Nasdaq +0.5%. Crude +0.1% to $57.98. Gold +0.5% to $4,198.10. Bitcoin -0.6% to $86,899.
Ten-year Treasury Yield unchanged at 4.00%.