Executive Mosaic’s GovCon Index rebounded from Monday’s loss, rising 0.69% to $4,882.43. U.S. stocks started the session tentatively but eventually ended with modest gains. The S&P 500 (+0.56%) recorded a new all-time high, while the Dow Jones Industrial Average (+0.56%) and Nasdaq Composite (+0.39%) settled slightly below their recent highs.
NVIDIA (Nasdaq: NVDA) retook center stage following several artificial intelligence tech announcements at the start of the annual GPU Technology Conference. The chipmakers also unveiled its Blackwell platform, a next-generation AI chip architecture. Notably, rival semiconductor stocks, led by Advanced Micro Devices (Nasdaq: AMD), declined. Also, Treasury yields slipped ahead of the US Federal Reserve’s rate announcement on Wednesday.
On the GovCon Index, 24 stocks, or 80% of its constituents, advanced. Maximus (NYSE: MMS) popped 2.25% to lead the advancers. Mercury Systems (Nasdaq: MRCY) and Fluor Corporation (NYSE: FLR) were the worst performers among the six decliners. Boeing (NYSE: BA) joined the gainers despite a notice from the Federal Aviation Administrator.
FAA Mike Whitaker told Reuters that Boeing must improve safety culture and address quality issues before it can increase 737 MAX production. Still, the plane manufacturer secured a firm-fixed-price, undefinitized modification to be at most $1.13 billion to a previously awarded contract with the U.S. Navy. This modification is for the purchase of F/A-18F aircraft. The Defense Logistics Agency Aviation also awarded Boeing a $32.2 million contract involving the KC-135 refueling tanker aircraft.
The markets could spike or dip mid-week when the Federal Open Market Committee concludes its two-day meeting and Fed Chair Powell reveals the future direction of interest rates.
Market Summary
| INDEX | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| GovCon Index Daily Average | 4,882.43 | 33.79 | 0.69% |
| Dow Jones Industrial Average | 39,110.76 | 320.33 | 0.83% |
| S&P 500 | 5,178.51 | 29.09 | 0.56% |
| NASDAQ | 16,166.79 | 63.34 | 0.39% |
Top 5 GovCon Index Daily Percentage Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| MMS | 83.7 | 1.84 | 2.25% |
| RTX | 94.86 | 1.40 | 1.50% |
| ACN | 378.08 | 5.41 | 1.45% |
| BAESY | 68.57 | 0.94 | 1.39% |
| J | 149.77 | 1.85 | 1.25% |
Top 5 GovCon Index Daily Net Performers
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| ACN | 378.08 | 5.41 | 1.45% |
| NOC | 467.48 | 5.09 | 1.10% |
| LMT | 437.19 | 3.99 | 0.92% |
| HON | 199.04 | 2.28 | 1.16% |
| CACI | 370.33 | 2.11 | 0.57% |
Top 5 GovCon Index Daily Percentage Decliners
| SYMBOL | PRICE | NET CHANGE | % CHANGE |
|---|---|---|---|
| MRCY | 27.49 | -0.78 | -2.76% |
| FLR | 39.22 | -0.94 | -2.34% |
| SAIC | 126.72 | -1.68 | -1.31% |
| VVX | 43.6 | -0.48 | -1.09% |
| PLTR | 23.8 | -0.20 | -0.83% |
