Executive Mosaic’s GovCon Index advanced 1.69% to $139.85 and posted a 3.4% monthly gain. However, Wall Street had a dismal October. The Dow Jones (+0.38%) and S&P 500 (+0.65%) edged higher but suffered their first three-month losing streak. The Nasdaq Composite gained 0.48%, although it lost 2.8% for the month.
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Executive Mosaic’s GovCon Index slipped into red territory, losing 0.89% to close at an average of $142.17. Major indexes, from the Dow Jones Industrial Average (-0.98%) to the S&P 500 (-1.34%), and the Nasdaq Composite (-1.62%), registered losses. The rise in long-term bond yields triggered the market selloff.
Executive Mosaic’s GovCon Index edged higher to $141.63 (+0.24%), extending its winning streak to three days. Wall Street got a boost from declining Treasury yields and easing oil prices. The Dow Jones Industrial Average (+0.40%), Nasdaq Composite (+0.58%) and the S&P 500 (+0.52%) remained in positive territory, posting modest gains.
Executive Mosaic’s GovCon Index extended its losing streak, sliding by 0.26% to $133.47, in contrast to the modest recovery of the three major U.S. indexes. The Nasdaq Composite, S&P 500 Index, and the Dow Jones Industrial Average rose 1.35%, 0.81%, and 0.39% as Treasury yields retreated on mid-week.
Executive Mosaic’s GovCon Index ticked lower, declining 0.39% to close at $132.99. All three major indexes moved lower too as investors await the critical labor market data on Friday. Economists and market analysts believe the nonfarm payrolls report will determine the Federal Reserve’s next move on interest rates.