Executive Mosaic’s GovCon Index advanced 0.70% to $5,327.33, a new high following eight consecutive daily gains since Aug. 6. Wall Street’s main indexes rose within record levels on fresh economic data. The Nasdaq Composite rose 2.34%, while the S&P 500 (+1.61%) and the Dow Jones Industrial Average (+1.39%) ended sharply higher.
Walmart (NYSE: WMT) popped 6.58% to an all-time closing high of $73.18 after reporting better-than-expected quarterly revenue and favorable business outlook. Tech conglomerate Cisco Systems (Nasdaq: CSCO) and top sports brand Nike (NYSE: NKE) shared the limelight with the retail giant, with +6.8% and +5.07%, respectively.
On the GovCon Index, 26 constituents finished in positive territory, led by Boeing’s (NYSE: BA) 4.69% mid-month gain. Lockheed Martin (NYSE: LMT) slipped 0.52% to lead four decliners.
On Thursday, Boeing reached an agreement with El Al Israel Airline and secured a deal to deliver up to 31 737 MAX jets. The deliveries from this $1.5 billion contract could begin in early 2027. Global investment firm Carlyle Group (Nasdaq: CG) announced delaying the closing of its sixth pan-Asian buyout fund as it plans to reduce China exposure by 50%.
Also, on Thursday, the U.S. Air Force awarded Northrop Grumman Systems, the global security company of Northrop Grumman (NYSE: NOC), a $378.9 million firm-fixed-price, cost-reimbursable, indefinite-delivery requirements contract to a previously awarded contract for repair services and 408th repair sustainment of the Large Aircraft Infrared Counter Measure System.
Several factors, including the U.S. dollar advancing versus major currencies and jobless claims falling for the second straight week, helped drive market volatility lower. The one percent retail sales growth in July also indicated resilient, healthy American consumers. Economists expect the encouraging data to boost rate cut chances.
Market Summary
| Index | Price | Net Change | % Change |
|---|---|---|---|
| GovCon Index Daily Average | 5,327.33 | 37.28 | 0.70% |
| Dow Jones Industrial Average | 40,563.06 | 554.67 | 1.39% |
| S&P 500 | 5,543.22 | 88.01 | 1.61% |
| NASDAQ | 17,594.50 | 401.90 | 2.34% |
Top 5 GovCon Index Daily Percentage Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| BA | 176.41 | 7.91 | 4.69% |
| CG | 42.03 | 1.24 | 3.04% |
| TXT | 87.81 | 1.82 | 2.12% |
| KTOS | 20.24 | 0.40 | 2.02% |
| KBR | 65.99 | 1.16 | 1.79% |
Top 5 GovCon Index Daily Net Performers
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| BA | 176.41 | 7.91 | 4.69% |
| ACN | 325.13 | 5.30 | 1.66% |
| HII | 269.63 | 3.00 | 1.13% |
| CW | 302.23 | 2.94 | 0.98% |
| AVAV | 186.83 | 2.76 | 1.50% |
Top 5 GovCon Index Daily Percentage Decliners
| Symbol | Price | Net Change | % Change |
|---|---|---|---|
| LMT | 560.29 | -2.93 | -0.52% |
| PSN | 93.09 | -0.25 | -0.27% |
| NOC | 503.7 | -1.30 | -0.26% |
| BAH | 147.95 | -0.03 | -0.02% |
| LHX | 226.49 | 0.43 | 0.19% |
