U.S. defense companies, until recently one of the main beneficiaries of market uncertainty and fear, are retreating from record valuations today before the open. Losing stocks include General Dynamics (GD.US) Lockheed Martin (LMT.US), Northrop Grumman (NOC.US) Raytheon (RTX.US) and Huntington Ingalls (HII.US):
- The reasons for the declines are likely to be comments by Kremlin spokesman Dmitry Peskov, who indicated that 'the goals of the special operation in Ukraine can be achieved not only through military means but also through negotiations' and China's Foreign Minister Lijan Zhao's confirmed meeting between Biden and Xi Jinping at the G20 summit. Zhao stressed that China hopes to cooperate with the Americans and set a new path in mutual diplomatic relations. The Ukrainian army reported the recapture of Kherson and the push of Russia to the other side of the Dnipro River.
An updated map indicating Russian maneuvers and territorial control in Ukraine. The heaviest fighting continues on the southern (Kherson) and northeastern (Lugansk and Donetsk) fronts. Source: ISW
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
Huntington Ingalls (HII.US) shares, D1 interval. Huntington is one of the main suppliers of warships to the US military. The stock is losing nearly 3% today before the open indicating an opening at the 50-session moving average, which runs around $236 and has so far marked an upward trend line. Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
