Executive Mosaic’s GovCon Index registered a three-day losing streak after dipping 0.30% to $151.66. All three major indexes fared better, with the tech-heavy Nasdaq Composite gaining 1.37%. The Dow Jones Industrial Average (+0.17%) and S&P 500 Index (+0.18%) ticked higher to remain near their highest levels since March 2022.
Alphabet (Nasdaq: GOOGL), Google’s parent company, was the market mover from the Big Tech stocks with its 5.31% gain. The Labor Department presented the unemployment benefits claims report on Thursday. The figure rose by 1,000 to 220,000 for the week ending December 2, while people collecting unemployment benefits on the week that ended November 25 declined by 64,000 to 1.86 million.
More than half (19) of the GovCon Index constituents ended in the red, with only Honeywell International (Nasdaq: HON) staying flat. The Carlyle Group (Nasdaq: CG) was the top gainer with +2.25%. Unconfirmed reports say the founder of the investment firm is in talks to acquire the Baltimore Orioles, a Major League baseball team.
AeroVironment (Nasdaq: AVAV) and RTX (NYSE: RTX) declined 2.33% and 1.46%, respectively, to lead the batch of non-gainers. The former slipped for the second straight day despite reporting record revenue in Q2 fiscal 2024. Meanwhile, RTX’s Pratt & Whitney announced the completion of the first flight for an AW139 using its 100% Sustainable Aviation Fuel in both PT6C-67C engines.
Up next on Friday is the U.S. employment report for November. Some market analysts say a slower job growth might prompt the Federal Reserve to end its rate hike campaign and start considering a cut in 2024.
Market Summary
| INDEX | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GovCon Index Daily Average | 151.66 | -0.46 | -0.30% |
| Dow Jones Industrial Average | 36,117.38 | 62.95 | 0.17% |
| S&P 500 | 4,585.59 | 36.25 | 0.80% |
| NASDAQ | 14,339.99 | 193.28 | 1.37% |
Top 5 GovCon Index Daily Percentage Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| CG | 36.29 | 0.80 | 2.25% |
| TTEK | 165.06 | 2.99 | 1.84% |
| MRCY | 36.1 | 0.63 | 1.78% |
| HII | 245.19 | 1.60 | 0.66% |
| KTOS | 20.16 | 0.12 | 0.60% |
Top 5 GovCon Index Daily Net Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| TTEK | 165.06 | 2.99 | 1.84% |
| HII | 245.19 | 1.60 | 0.66% |
| CG | 36.29 | 0.80 | 2.25% |
| MRCY | 36.1 | 0.63 | 1.78% |
| BA | 237.33 | 0.44 | 0.19% |
Top 5 GovCon Index Daily Percentage Decliners
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| AVAV | 123.93 | -2.96 | -2.33% |
| RTX | 81.5 | -1.21 | -1.46% |
| BAH | 125.34 | -1.56 | -1.23% |
| LHX | 196.68 | -2.27 | -1.14% |
| VVX | 42.49 | -0.43 | -1.00% |
