Executive Mosaic’s GovCon Index advanced +0.32% to $5,021.18 for its seventh straight daily win. Besides erasing Thursday’s losses, the Nasdaq Composite (-1.51%), S&P 500 (+1%), and the Dow Jones Industrial Average (-0.78%) recorded their best weekly performances in two months.
The consumer discretionary, technology, and communication services sectors led Friday’s rally. Crypto-related stocks MicroStrategy (Nasdaq: MSTR) and MARA Holdings (NasdaqCM: MARA) climbed +8% as Bitcoin hit $105,900. Crypto investors expect favorable policies on digital currencies under the incoming Trump administration.
Hot Streak
GovCon Index sustained its hot streak, posting positive returns since Jan. 8, 2025. Palantir Technologies (Nasdaq: PLTR) led 19 gainers, followed by V2X (NYSE: VVX) and AeroVironment (Nasdaq: AVAV). General Dynamics (NYSE: GD) topped 11 decliners. AI stock Palantir Technologies rose +3.65% to $71.77 and has been on an uptrend since Tuesday.
The US Navy awarded Lockheed Martin Rotary and Mission Systems, a business segment of Lockheed Martin (NYSE: LMT), a $280.4 million cost-plus-fixed-fee, cost-plus-incentive-fee, and cost type modification to previously awarded contract for combat systems engineering efforts. The award is for the planned modernization and selection of new combat system capabilities for international partner Canadian Royal Navy ships operating AEGIS.
Lockheed Martin, along with Boeing (NYSE: BA) and RTX (NYSE: RTX), will present their latest quarterly results on Jan. 28, 2025.
Solid Start
Trading resumes Tuesday, Jan. 21, 2025, after the Martin Luther King federal holiday and the inauguration of Donald J. Trump as the 47th President of the United States. Meanwhile, the earnings season is off to a solid start. According to FactSet, the S&P 500 Index reports higher earnings in Q4 2024. The financials sector leads in the overall earnings growth rate thus far over this period.
However, regarding interest rates, Cleveland Fed President Beth Hammack said, “We still have an inflation problem.” She wants the central bank to go slow on rate cuts.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,021.18 | 15.90 | 0.32% |
| Dow Jones Industrial Average | 43,487.83 | 334.70 | 0.78% |
| S&P 500 | 5,996.66 | 59.32 | 1.00% |
| NASDAQ | 19,630.20 | 291.91 | 1.51% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| PLTR | 71.77 | 2.53 | 3.65% |
| VVX | 52.93 | 1.25 | 2.42% |
| AVAV | 168.74 | 3.35 | 2.03% |
| CG | 55.24 | 0.97 | 1.79% |
| FLR | 50.39 | 0.88 | 1.78% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| LMT | 490.32 | 3.46 | 0.71% |
| AVAV | 168.74 | 3.35 | 2.03% |
| PLTR | 71.77 | 2.53 | 3.65% |
| BA | 171.09 | 2.16 | 1.28% |
| ACN | 352.59 | 2.03 | 0.58% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| GD | 266.67 | -2.16 | -0.80% |
| KBR | 59.36 | -0.44 | -0.74% |
| SAIC | 115.87 | -0.79 | -0.68% |
| MMS | 78.38 | -0.44 | -0.56% |
| CACI | 452.39 | -1.89 | -0.42% |
