Executive Mosaic’s GovCon Index rose +2.45% to $4,587.86, marking its second-best day performance in 2025. Wall Street recovered from a two-day selloff on news of a tariff reprieve for carmakers. Chip stocks lifted the Nasdaq Composite (+1.46%), while the Dow Jones Industrial Average (+1.14%) and S&P 500 (+1.12%) finished higher.
Stellantis (NYSE: STL) rose +9.24% to lead the surge of auto manufacturers, followed by General Motors (NYSE: GM) and Ford (NYSE: F) with +7.21% and +5.81, respectively. U.S. President Donald Trump announced an exemption of auto tariffs for Canada and Mexico for 30 days after meeting with the big three industry players. More than 70% of NYSE stocks advanced midweek.
Hefty gains
The GovCon Index rebounded from its weak start in March as 28 of 30 constituents outperformed. Shipbuilder HII (NYSE: HII) was the breakout stock with +12.36%. Palantir Technologies (Nasdaq: PLTR), Kratos Defense & Security Solutions (Nasdaq: KTOS) and General Dynamics (NYSE: GD) also recorded hefty gains. Only AeroVironment (Nasdaq: AVAV) and Tetra Tech (Nasdaq: TTEK) ended lower.
Analysts at investment bank William Blair are bullish on AI stock Palantir due to an executive order requiring federal agencies to create a centralized payment tracking system. They believe that the software and data analytics company is the top-of-mind choice for creating the system.
Through its Board of Directors, General Dynamics declared a regular quarterly dividend and a 5.6% increase from last year’s dividend, the 28th consecutive annual dividend increase. The dividend is payable May 9, 2025, to shareholders of record on April 11, 2025.
Shipbuilding industry tailwind
On Wednesday, before the joint session of Congress, President Trump revealed a plan to resurrect the American shipbuilding industry, both military and commercial. He added that there will be a new shipbuilding office at the White House. The announcement, which includes special tax incentives to bring the industry home to America, is a strong tailwind for HII, the country’s biggest military shipbuilder.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 4,587.86 | 112.20 | 2.45% |
| Dow Jones Industrial Average | 43,006.59 | 485.60 | 1.14% |
| NASDAQ | 18,552.73 | 267.57 | 1.46% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| HII | 193.59 | 21.29 | 12.36% |
| PLTR | 90.13 | 5.73 | 6.79% |
| KTOS | 27.81 | 1.43 | 5.42% |
| GD | 262.96 | 12.16 | 4.85% |
| BAH | 109.94 | 4.15 | 3.92% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| HII | 193.59 | 21.29 | 12.36% |
| GD | 262.96 | 12.16 | 4.85% |
| LMT | 460.42 | 11.60 | 2.58% |
| CW | 323.87 | 11.36 | 3.64% |
| NOC | 474.2 | 10.37 | 2.24% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| AVAV | 135.69 | -6.21 | -4.38% |
| TTEK | 28.94 | -0.19 | -0.65% |
| ACN | 348.26 | 2.48 | 0.72% |
| RTX | 129.64 | 0.94 | 0.73% |
| HON | 209.62 | 1.62 | 0.78% |
