US Defense budget hit New High，TOP 13 Stocks to Focus

The United States Senate and House of Representatives issued a joint statement on December 6, saying that they had reached an agreement on the 2023 fiscal year defense budget totaling 857.9 billion US dollars.

Source from Web

This budget set a record for US military expenditure.

According to the National Defense Authorization Act, in the U.S. defense budget in 2023, $816.7 billion will be allocated to the Department of Defense, $30.3 billion to theDepartment of Energy, and more than $10 billion will be used for defense activities outside the jurisdiction of the United States.In addition to the United States, other Western countries are also increasing defense budget spending.

Shengbao Bank warned that 2023 will be a year when the world will enter a "war economy". The western countries have raised their defense budgets, which may be a reminder of the changes in the global situation.

According to the list of "2022 World Top 100 Defense Enterprises" released by the US Defense News Network, US listed companies such as $Lockheed Martin(LMT)$ , $Raytheon Technologies Corporation(RTX)$ , $Boeing(BA)$ , $Northrop Grumman(NOC)$ , $General Dynamics Corp(GD)$ , and $L3Harris Technologies, Inc.(LHX)$ and etc. are on the list.

Since this year, $Lockheed Martin(LMT)$ , $Northrop Grumman(NOC)$ and $Huntington Ingalls(HII)$ have risen 39.64%, 39.52% and 27.8% respectively, outperforming the market.