Executive Mosaic’s GovCon Index stayed afloat mid-week, gaining a modest 0.02% to close at $138.65. Unfortunately, all major US stock indices sank after the Feds kept its benchmark rate unchanged, but hints of one more hike before the year ends.
Executive Mosaic’s GovCon Index kept pace with Wall Street to start the week, posting modest gains characterized by quiet trading. All eyes are on the Feds as Chairman Jerome Powell and the governing council meet mid-week.
Executive Mosaic’s GovCon Index ended lower (-0.68%) like the major U.S. indexes a day before Wednesday’s Federal Open Market Committee meeting. Due to the lack of catalysts to push stock prices higher, the Dow Jones Industrial Average (-0.02%), Nasdaq Composite (-0.1%), the S&P 500 Index (-0.07%) hardly moved from yesterday.