Executive Mosaic’s GovCon Index dipped 1.01% to $152.51, ending its four-day winning streak. The Dow Jones Industrial Average (-0.22%) and the S&P 500 lost steam too not the Nasdaq Composite (+0.31%). Despite the lackluster Tuesday, the major indexes remain up for the quarter and the year.
The ten-year Treasury fell to 4.2%, while the advance of mega-cap tech stocks Apple (Nasdaq: AAPL) and NVIDIA (Nasdaq: NVDA) saved the tech-heavy index from falling into negative territory.
On the GovCon Index, all but one of the 30 constituents finished in the red. AeroVironment (Nasdaq: AVAV) gained 0.77% to $141.23, while Science Applications International Corp (NYSE: SAIC), CACI (NYSE: CACI), and Booz Allen Hamilton (NYSE: BAH) were the top three decliners.
The Bureau of Labor Statistics released the job openings report for October. Data showed an estimated 8.7 million available jobs compared to 9.4 million in September. This latest figure is the lowest in a month since March 2021 and significantly lower than the 12.03 million job openings in March last year.
Some economists think the labor market is cooling, as the numbers skew towards the pre-pandemic level. However, more labor market reports will come out this week, including the jobs report for November 2023, before anyone can say with certainty the hiring boom is over.
On the oil market, prices continue to fall, notwithstanding the agreement of OPEC+ members to implement production cuts. The West Texas Instrument (WTI) contract and Brent crude dipped to $72.32 and $77.20 per barrel, respectively.
Market Summary
| INDEX | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GovCon Index Daily Average | 152.51 | -1.53 | -1.01% |
| Dow Jones Industrial Average | 36,124.56 | -79.88 | -0.22% |
| S&P 500 | 4,567.18 | -2.60 | -0.06% |
| NASDAQ | 14,229.91 | 44.42 | 0.31% |
Top 5 GovCon Index Daily Percentage Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| AVAV | 141.23 | 1.08 | 0.77% |
| ACN | 335.83 | -0.60 | -0.18% |
| GIB | 103.17 | -0.19 | -0.18% |
| BA | 234.16 | -0.71 | -0.30% |
| GD | 250.89 | -1.32 | -0.52% |
Top 5 GovCon Index Daily Net Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| AVAV | 141.23 | 1.08 | 0.77% |
| PLTR | 18.3 | -0.10 | -0.54% |
| KTOS | 20.05 | -0.17 | -0.84% |
| GIB | 103.17 | -0.19 | -0.18% |
| CG | 35.4 | -0.23 | -0.65% |
Top 5 GovCon Index Daily Percentage Decliners
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| SAIC | 131.75 | -4.25 | -3.13% |
| CACI | 327.93 | -8.40 | -2.50% |
| BAH | 128.05 | -3.17 | -2.42% |
| FLR | 38.22 | -0.86 | -2.20% |
| MMS | 85.46 | -1.42 | -1.63% |
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