Executive Mosaic’s GovCon Index finished slightly higher at $5,037.66 (+0.37%), but the major US exchanges did not recover from Monday’s retreat and stayed red. After four consecutive daily losses, the Dow Jones Industrial Average (-0.35%) declined to a two-month low.
The tech-heavy Nasdaq lost momentum, evidenced by only 273 advancers (32%). However, Alphabet (Nasdaq: GOOGL) bucked the downtrend with +5.59%. The Google parent scored a breakout with the unveiling of Willow, its new quantum chip. Market analysts say quantum computing could be the next frontier for many tech companies.
Only the second daily gain in December
The GovCon snapped its losing streak after posting a second daily gain in seven trading days this month. Boeing (NYSE: BA) rose 4.5% to top 18 gainers, while AeroVironment (Nasdaq: AVAV) fell -4.18% to lead 12 decliners. Top AI stock Palantir Technologies (Nasdaq: PLTR) started strong but settled lower at the closing bell.
Boeing, a Dow Jones component, popped on the news that it will resume production of the 737 Max aircraft. Analysts at investment firm Jefferies expect an average production of 29 jets per month in 2025. The plane manufacturer projected 38 before the union strike three months ago.
AeroVironment fell for the fourth straight session and has lost 28.1% overall. The combat drone maker reported a record $188.5 million in revenue in Q2 fiscal 2025. However, in the three months ending Oct. 26, 2024, net income declined 136.5% year-over-year to $17.8 million.
Honeywell (Nasdaq: HON), another Dow Jones member, announced a partnership with Avianca, Colombia’s largest airline. The Fortune 500 company will provide provide avionics technologies and mechanical systems for Avianca’s new Airbus A320 fleet.
Also, on Tuesday, the US Army awarded Sikorsky, a Lockheed Martin (NYSE: LMT) company, a $375.9 million modification to contract providing full funding for UH-60M and HH-60M aircraft.
Inflation report
Wall Street could spike or dip depending on the latest inflation-related data. On Wednesday, the Bureau of Labor Statistics will release November’s consumer price index reading and core CPI. Moreover, the readings could influence the US Federal Reserve’s decision on interest rates.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,037.66 | 18.42 | 0.37% |
| Dow Jones Industrial Average | 44,247.83 | -154.10 | -0.35% |
| NASDAQ | 19,687.24 | -49.45 | -0.25% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| BA | 164.1 | 7.06 | 4.50% |
| HON | 229.08 | 3.99 | 1.77% |
| CACI | 444.49 | 7.30 | 1.67% |
| VVX | 59.49 | 0.67 | 1.14% |
| ACN | 362.9 | 3.40 | 0.95% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| CACI | 444.49 | 7.30 | 1.67% |
| BA | 164.1 | 7.06 | 4.50% |
| HON | 229.08 | 3.99 | 1.77% |
| ACN | 362.9 | 3.40 | 0.95% |
| LMT | 512.94 | 2.93 | 0.57% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| AVAV | 153.72 | -6.70 | -4.18% |
| PLTR | 70.89 | -1.57 | -2.17% |
| BAESY | 59.95 | -0.84 | -1.38% |
| HII | 190.98 | -2.27 | -1.17% |
| PSN | 95.92 | -0.86 | -0.89% |
