Executive Mosaic’s GovCon Index fell 1.86% to $136.11, and U.S. stocks slumped following the Feds’ hike pause but “higher rates for longer” warning on mid-week. The ten-year Treasury yield climbed to 4.48%, its highest level since 2007.
September 7, 2024
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September 18 Market Report: GovCon Index and Wall Street Post Modest Gains to Start the Week
Executive Mosaic’s GovCon Index kept pace with Wall Street to start the week, posting modest gains characterized by quiet trading. All eyes are on the Feds as Chairman Jerome Powell and the governing council meet mid-week.
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September 19 Market Report: GovCon Index Closes Lower Before Day of Decision
Executive Mosaic’s GovCon Index ended lower (-0.68%) like the major U.S. indexes a day before Wednesday’s Federal Open Market Committee meeting. Due to the lack of catalysts to push stock prices higher, the Dow Jones Industrial Average (-0.02%), Nasdaq Composite (-0.1%), the S&P 500 Index (-0.07%) hardly moved from yesterday.
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September 15 Market Report: GovCon Index Slips Along with U.S. Stock Indices
Executive Mosaic’s GovCon Index backtracked on Friday and gave up the gains from the previous day, slipping 0.40% to close at $138.28. Volatility took over with all three major U.S. indices tumbling after Thursday’s rally.
