Defense stocks are trading higher Wednesday after Russian President Vladimir Putin mobilized more troops to Ukraine, which has raised concerns of the Ukraine war escalating.
Lockheed Martin Corp LMT, General Dynamics Corp GD, L3Harris Technologies Inc LHX, Northrop Grumman Corp NOC and Raytheon Technologies Corp RTX are all moving higher.
What Happened: Putin on Wednesday announced Russia's first mobilization since World War II and warned that he's not bluffing when it comes to using nuclear weapons to defend Russia.
"I want to remind you that our country also has various means of destruction, and for separate components and more modern than those of NATO countries, and when the territorial integrity of our country is threatened, to protect Russia and our people, we will certainly use all the means at our disposal," Putin said.
Russia reportedly said it would draft about 300,000 additional personnel. The Russian President also accused the West of engaging in "nuclear blackmail."
Related Link: Putin Escalates Ukraine War As He Taps Military Reserves: Says 'Not A Bluff,' Russia's Abilities 'More Modern' Than NATO
Price Action: At time of publication, Lockheed Martin is up 2.52% at $431.20, General Dynamics is up 2.58% at $235.04, L3Harris is up 2.94% at $235.20, Northrop Grumman is up 2.82% at $507.95 and Raytheon is up 2.5% at $87.28.
Photo: WikiImages from Pixabay.
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