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January 30 Market Report: Executive Mosaic’s GovCon Index and Dow Jones Stay Positive, FOMC Meeting Begins

January 30 Market Report: Executive Mosaic’s GovCon Index and Dow Jones Stays Positive, FOMC Meeting Begins

Executive Mosaic’s GovCon Index closed slightly higher to $4,649.58 (+0.17%) and stayed afloat as the FOMC meeting began. The Dow Jones Industrial Average (+0.35%) posted its seventh record close in 2024, while the S&P 500 (-0.06%) and Nasdaq Composite (-0.76%) turned red.

Microsoft (Nasdaq: MSFT) slipped by 0.28% before presenting second-quarter results. After the bell, the tech giant reported better-than-expected top and bottom lines. Its CEO, Satya Nadella, said, “We’ve moved from talking about AI to applying AI at scale. By infusing AI across every layer of our tech stack, we’re winning new customers.”

Alphabet (Nasdaq: GOOG, GOOGL) fell 4% in extended trading despite improved revenue and profit in the fourth quarter. The Google parent company reported lower ad revenues. On the S&P 500, General Motors (NYSE: GM) popped 7.8% to lead advancers.

Top-weighted Dow Jones component and GovCon Index constituent Boeing (NYSE: BA) and Palantir Technologies (NYSE: PLTR) declined along with 11 other GCI stocks. General Dynamics (NYSE: GD), Honeywell (Nasdaq: HON), and Northrop Grumman (NYSE: NOC) gained more than 1% on the side of gainers. 

The U.S. Navy awarded General Dynamics NASSCO a $53.1 million cost-plus-fixed-fee modification to a previously awarded contract to exercise options for the accomplishment of ship alteration under the USS Chung-Hoon and USS James E. Williams Fiscal 2024 Depot Maintenance Period availabilities.

Also on Tuesday, SpaceX’s Falcon 9 rocket launched Northrop’s Cygnus cargo delivery spacecraft from Space Launch Complex 40 at Cape Canaveral Space Force Station in Florida to the International Space Station. The spacecraft is for the NG20 cargo delivery mission, which is under NASA’s Commercial Resupply Service-2 contract.

Corporate earnings took centerstage Tuesday as the markets await the FOMC policy statement and rate decision through Fed Chairman Jerome Powell tomorrow. 

Market Summary

INDEX PRICE NET CHANGE % CHANGE
GovCon Index Daily Total 4,649.58 7.91 0.17%
Dow Jones Industrial Average 38,467.31 133.86 0.35%
S&P 500 4,924.97 -2.96 -0.06%
NASDAQ 15,509.90 -118.14 -0.76%

Top 5 GovCon Index Daily Percentage Performers

SYMBOL PRICE NET CHANGE % CHANGE
GD 268.67 3.89 1.47%
HON 205.9 2.85 1.40%
NOC 443.5 5.19 1.18%
LMT 431.68 3.67 0.86%
HII 260.32 1.73 0.67%

 

Top 5 GovCon Index Daily Net Performers

SYMBOL PRICE NET CHANGE % CHANGE
NOC 443.5 5.19 1.18%
GD 268.67 3.89 1.47%
LMT 431.68 3.67 0.86%
HON 205.9 2.85 1.40%
HII 260.32 1.73 0.67%

 

Top 5 GovCon Index Daily Percentage Decliners

SYMBOL PRICE NET CHANGE % CHANGE
BA 200.44 -4.75 -2.31%
PLTR 16.74 -0.35 -2.05%
KTOS 17.28 -0.35 -1.99%
MRCY 30.44 -0.54 -1.74%
AVAV 122.56 -1.32 -1.07%