Executive Mosaic’s GovCon Index drifted lower again to $144.52, extending its losing streak in post-Thanksgiving to four days. Wall Street’s Big Three had mixed results on mid-week. Only the blue-chip Dow Jones (+0.04%) gained, while the S&P 500 (-0.09%) and Nasdaq Composite (-0.16%) ended in the red.
Executive Mosaic’s GovCon Index gave up gains from the last three sessions, sliding 0.09% to $144.95. The S&P 500 Index and the Nasdaq Composite snapped their five-day winning streaks, while the blue-chip Dow Jones Industrial Average shed more than 60 points (-0.18%) to close in the red.
Executive Mosaic’s GovCon Index closed at $140.85 or 0.31% higher to stay positive for the third consecutive session. The Feds’ decision to keep interest rates steady caused bond yields to retreat, triggering a broad stock rally. All three major indexes finished strong, although a year-end rate hike is still possible.
Executive Mosaic’s GovCon Index edge higher, gaining 0.53% to $142.99. The major U.S. indexes also started the week strong, buoyed by optimism on earnings season. Blue-chip Dow Jones rose 0.93% (+324.15 points), while the Nasdaq Composite and S&P 500 advanced 1.2% and 1.06%, respectively.