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September 27 Market Report: Executive Mosaic’s GovCon Index, S&P 500 and Nasdaq Rebound, Treasury Yield Reaches Highest Level

September 27 Market Report: Executive Mosaic’s GovCon Index, S&P 500 and Nasdaq Rebound, Treasury Yield Reaches Highest Level

Executive Mosaic’s GovCon Index rebounded from Tuesday’s loss, climbing 1.01% to $135.64. Nasdaq Composite (+0.22%) and the S&P 500 Index (-0.02%) edged higher, but the Dow Jones dipped 0.20% to finish in the red. The 10-year Treasury Yield rose five basis points to 4.612%, reaching its highest level in 15 years. Oil prices and the U.S. dollar are also pushing higher. 

Palantir Technologies (NYSE: PLTR) was the top GCI ticker and the day’s hottest stock. It outperformed the broader market and gained 6.38% to close at $14.85. The U.S. Army awarded the tech firm and software platform provider a $250 million contract to do research and experiment on artificial intelligence and machine learning.

Jacobs Solutions (NYSE: J), another AI-focused stock, was the second-best performer with its 3.67% gain. Globalstar (NYSE: GSAT) and CAE (NYSE: CAE) were the top two decliners, sliding 1.61% and 0.95%, respectively. Notably, only seven GCI constituents landed in negative territory.

Based on CNN’s “Fear and Greed” Index, the extreme fear reading mid-week is the first time in six months. The stock market is under pressure from rising rates and persistent inflation, not to mention a potential government shutdown. 

U.S. Securities and Exchange Commission Chairman, Gary Gensler, said companies intending to go public should do so by Friday. The everyday functions of the agency, including approval of initial public offerings, will be frozen during a shutdown. 

Market Summary

Index Price Net Change % Change
GovCon Index Daily Average 135.64 1.37 1.01%
Dow Jones Industrial Average 33,550.27 -68.61 -0.20%
S&P 500 4,274.51 0.98 0.02%
NASDAQ 13,092.85 29.24 0.22%

Top 5 GovCon Index Daily Percentage Performers

Symbol Price Net Change % Change
PLTR 14.85 0.89 6.38%
J 136.18 4.82 3.67%
NOC 437.24 10.66 2.50%
HII 203.19 2.78 1.39%
CACI 313.55 4.24 1.37%

Top 5 GovCon Index Daily Net Performers

Symbol Price Net Change % Change
NOC 437.24 10.66 2.50%
J 136.18 4.82 3.67%
CACI 313.55 4.24 1.37%
ACN 314.38 3.77 1.21%
GD 221 2.82 1.29%

Top 5 GovCon Index Daily Percentage Decliners

Symbol Price Net Change % Change
GSAT 1.22 -0.02 -1.61%
CAE 23.03 -0.22 -0.95%
GIB 98.63 -0.77 -0.77%
MMS 74.38 -0.29 -0.39%
BA 195.46 -0.18 -0.09%

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