Executive Mosaic’s GovCon Index stayed positive, rising 0.64% to 4,818.03. Wall Street’s major indexes flashed green to start a fresh and busy week. The S&P 500 (+0.87%) and Nasdaq Composite (+1.11%) ended their slumps, while the Dow Jones Industrial Average (+0.675) advanced triple digits.
Monday’s market movers were Ford Motor (NYSE: F), United Airlines (Nasdaq: UAL), and NVIDIA (Nasdaq: NVDA). The two-year and ten-year Treasury yields edged lower to 4.976% and 4.625%, respectively.
On the GovCon Index, Carlyle Group (Nasdaq: CG), Palantir Technologies (NYSE: PLTR), and BAE Systems led the charge of 22 constituents. Mercury Systems (Nasdaq: MRCY) and six GCI stocks underperformed. Crescent Midstream, a Carlyle Group-backed oil pipeline company, is exploring a potential sale worth around $1.3 billion after receiving a takeover interest. Palantir Technologies rose 2.44% to end its six-day losing streak.
Meanwhile, BAE Systems Ordnance Systems is preparing to update and modernize the Radford Army Ammunition Plant, a World War II-era facility in Radford, Virginia. It selected Hanwha Defense USA, the U.S. defense subsidiary of Hanwha Aerospace in South Korea, as its partner for the project.
RTX (NYSE: RTX) was flat but announced Monday that it had secured its largest renewable energy procurement deal through an agreement with ENGIE Resources, a subsidiary in North America. RTX will provide 100% renewable electricity in six locations in Texas this year and expand to 12 locations by 2028. However, the contract amount was undisclosed.
Big tech names and top defense contractors will present their latest quarterly results this week. Investors expect corporate earnings to be a positive factor or tailwind for stocks. Economic data to be released includes the first-quarter U.S. GDP and core personal consumption expenditures price index.
Market Summary
| INDEX | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GovCon Index Daily Average | 4,818.03 | 31.06 | 0.64% |
| Dow Jones Industrial Average | 38,239.98 | 253.58 | 0.67% |
| S&P 500 | 5,010.60 | 43.37 | 0.87% |
| NASDAQ | 15,451.31 | 169.30 | 1.11% |
Top 5 GovCon Index Daily Percentage Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| CG | 45.2 | 1.12 | 2.54% |
| PLTR | 20.97 | 0.50 | 2.44% |
| BAESY | 66.54 | 1.34 | 2.06% |
| NOC | 470.98 | 8.40 | 1.82% |
| CACI | 376.08 | 6.70 | 1.81% |
Top 5 GovCon Index Daily Net Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| NOC | 470.98 | 8.40 | 1.82% |
| CACI | 376.08 | 6.70 | 1.81% |
| HII | 274.49 | 2.83 | 1.04% |
| GD | 291.31 | 2.69 | 0.93% |
| LHX | 208.14 | 2.69 | 1.31% |
Top 5 GovCon Index Daily Percentage Decliners
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| MRCY | 27.52 | -0.46 | -1.64% |
| KTOS | 17.83 | -0.19 | -1.05% |
| LMT | 461.33 | -2.54 | -0.55% |
| MMS | 81.04 | -0.40 | -0.49% |
| TTEK | 184.08 | -0.59 | -0.32% |
