Executive Mosaic’s GovCon Index climbed from Monday’s negative position, rising 0.46% to $5,431.55. Wall Street’s Big Three ended positive on fractional gains after the U.S. consumer confidence index rose to its highest level this month. The Dow Jones Industrial Average closed at a record high for the second straight session.
Investors are on pause until Wednesday when NVIDIA (Nasdaq: NVDA), the AI sector’s top draw, presents its latest quarterly results. Some mega-cap tech stocks are likewise on tap to release their earnings reports. Medical technology stocks ResMed (NYSE: RMD) and Insulet (Nasdaq: PODD) were among the top gainers Tuesday with +7.26% and +6.58%, respectively.
Gainers outnumbered decliners on the GovCon Index. CGI (NYSE: GIB) and the Carlyle Group (Nasdaq: CG) topped the 23 gainers, while V2X (NYSE: VVX) and six other GCI stocks finished lower.
CACI International (NYSE: CACI) announced winning two Nunn-Perry Awards for excellence under the Department of Defense Mentor Protégé Program. DOD recognized CACI for its collaboration with EXPANSIA, a service-disabled, veteran-owned small business, and Mayvin, a woman-owned small business management consulting firm.
The U.S. Army awarded AeroVironment (Nasdaq: AVAV) a $990 million hybrid cost-plus-fixed-fee and firm-fixed-price contract to provide an organic, stand-off capability to dismounted infantry formations capable of destroying tanks, light armored vehicles, hardened targets, defilade and personnel targets.
Boeing (NYSE: BA) secured a maximum $69 million modification with the U.S. Air Force to a previously awarded contract for procuring long lead spare parts for two VC-25B aircraft. The modification raised the contract’s total cumulative face value to $4,300,768,894.
Wall Street is still fresh from Friday’s rate cut rally. The U.S. Federal Reserve is almost certain to lower interest rates next month due to moderating inflation and a softening labor market. Lower borrowing costs and strong corporate earnings would support equity markets in the coming months.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,431.55 | 25.03 | 0.46% |
| Dow Jones Industrial Average | 41,250.50 | 9.98 | 0.02% |
| S&P 500 | 5,625.80 | 8.96 | 0.16% |
| NASDAQ | 17,754.82 | 29.05 | 0.16% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| GIB | 111.21 | 1.53 | 1.40% |
| CG | 40.29 | 0.48 | 1.21% |
| CACI | 476.61 | 5.59 | 1.19% |
| BAH | 155.75 | 1.78 | 1.16% |
| HON | 206.11 | 2.26 | 1.11% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| CACI | 476.61 | 5.59 | 1.19% |
| ACN | 340.38 | 3.60 | 1.07% |
| LMT | 560.41 | 2.31 | 0.41% |
| HON | 206.11 | 2.26 | 1.11% |
| CW | 315.74 | 1.84 | 0.59% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| VVX | 55.92 | -0.72 | -1.27% |
| KTOS | 22.3 | -0.28 | -1.24% |
| TXT | 89.53 | -0.53 | -0.59% |
| GD | 290.2 | -0.80 | -0.27% |
| MRCY | 37.28 | -0.10 | -0.27% |
