Executive Mosaic’s GovCon Index gained 0.11% to $4,967.96, extending its winning streak to four days. It was all green on Wall Street following a broad market rally. The S&P 500 (+1.03%) registered a fresh closing record, while the Nasdaq Composite (+1.51%) notched a new all-time high.
The blue-chip Dow Jones Industrial Average (+0.34%) ticked higher despite top component Apple’s (Nasdaq: AAPL) decline for the seventh consecutive session. Kroger (NYSE: KR) and General Electric (NYSE: GE) were the top performers on the S&P 500.
Semiconductor stocks led the rally in the tech-heavy Nasdaq Composite Index. NVIDIA (Nasdaq: NVDA) rose 4.47% to $926.69 after Japanese investment bank Mizuho Securities raised its price target for the chipmaker to $1,000.
On the GovCon Index, gainers outnumbered decliners, 19 to 11. CGI Group (NYSE: GIB), Mercury Systems (Nasdaq: MRCY), and Kratos Defense & Security Solutions (Nasdaq: KTOS) led the advancers. The top decliners were AeroVironment (Nasdaq: AVAV) and Science Applications International Corporation (Nasdaq: SAIC).
SAIC announced a $96 million contract award by the Office of the Under Secretary of Defense for Research and Engineering to modernize business operations. On Thursday, Vinnie DiFronzo, executive vice president of Air Force and Combatant Command Business Group at SAIC, said the OUSD(R&E) is a longtime customer.
U.S. Federal Reserve Chairman Jerome Powell appeared before the Senate Banking Committee, saying, “I think we are in the right place.” His comments during the congressional testimony that the central bank is close to getting the confidence it needs to lower interest rates triggered Thursday’s market rally. The February jobs report is coming out Friday.
Market Summary
| INDEX | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GovCon Index Daily Average | 4,967.96 | 5.51 | 0.11% |
| Dow Jones Industrial Average | 38,791.35 | 130.30 | 0.34% |
| S&P 500 | 5,157.36 | 52.60 | 1.03% |
| NASDAQ | 16,273.38 | 241.84 | 1.51% |
Top 5 GovCon Index Daily Percentage Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GIB | 118.25 | 3.02 | 2.62% |
| MRCY | 30.72 | 0.78 | 2.61% |
| KTOS | 18.63 | 0.46 | 2.53% |
| CG | 47.62 | 0.95 | 2.04% |
| ACN | 386.91 | 6.08 | 1.60% |
Top 5 GovCon Index Daily Net Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| ACN | 386.91 | 6.08 | 1.60% |
| GIB | 118.25 | 3.02 | 2.62% |
| TTEK | 186.82 | 2.81 | 1.53% |
| CACI | 379.52 | 2.70 | 0.72% |
| HON | 202.61 | 2.11 | 1.05% |
Top 5 GovCon Index Daily Percentage Decliners
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| AVAV | 177.67 | -4.58 | -2.51% |
| SAIC | 141.45 | -1.91 | -1.33% |
| LHX | 213.02 | -2.58 | -1.20% |
| NOC | 456.4 | -4.67 | -1.01% |
| LMT | 429.99 | -3.49 | -0.81% |
