Executive Mosaic’s GovCon Index rose Monday in tandem with major U.S. equity indices that set new record highs as investors continued to bet President Donald Trump’s plans for lower corporate taxes and regulations can boost economic growth.
GovCon Index advancers outnumbered decliners by an 8-to-1 ratio as 10 of its 11 S&P 500 components registered gains and eight co-listed stocks added at least $1.00 each in conjunction with the S&P industrial index’s climb just short of 1 percent.
The S&P industrial index has added almost 11 percent since Trump’s Nov. 8 election win on trader expectations over increases in spending on defense, infrastructure and other domestic-related items.
GCI-S&P 500 companies Northrop Grumman (NYSE: NOC), L3 Technologies (NYSE: LLL) and General Dynamics (NYSE: GD) climbed more than $2.00 each.
Co-listed shares above the $1.00-gain mark included Raytheon (NYSE: RTN), Honeywell International (NYSE: HON), Boeing (NYSE: BA), Lockheed Martin (NYSE: LMT) and Harris Corp. (NYSE: HRS).
Government services contractors Maximus (NYSE: MMS) and Science Applications International Corp. (NYSE: SAIC) also posted gains of more than $1.00.
Four GCI stocks hit 52-week highs during the session: General Dynamics, Honeywell, BAE Systems PLC and Huntington Ingalls Industries (NYSE: HII).
Shares in British defense contractor BAE trade on over-the-counter markets in the U.S.
CSRA (NYSE: CSRA) ended as the lone GCI-S&P 500 stock to close lower.
The U.S. stock bellwether S&P 500’s total market capitalization exceeded $20 trillion during the Monday session on continued investor anticipation of tax cuts under a Trump administration along with rollbacks of regulations on banks.
Investors have also welcomed the most recent round of corporate earnings reports from S&P 500 companies that are on track to show the strongest growth rate in nine quarters, according to Reuters.
Financial stocks climbed 1 percent to lead nine major S&P sectors higher with telecommunications the largest decliner among the remaining two.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 91.114 | +0.775 | +0.858% |
| S&P 500 | 2,328.25 | +12.15 | +0.52% |
| Dow Jones Industrial Average | 20,412.16 | +142.79 | +0.70% |
| NASDAQ | 5,763.96 | +29.83 | +0.52% |
| Advancing GovCon Index Issues | 26 |
| Declining GovCon Index Issues | 3 |
| Unchanged GovCon Index Issues | 1 |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| NOC | Northrop Grumman * | 239.08 | +2.83 | +1.20% |
| LLL | L3 Technologies * | 165.47 | +2.36 | +1.45% |
| GD | General Dynamics * | 186.60 | +2.20 | +1.19% |
| MMS | Maximus | 58.03 | +1.85 | +3.30% |
| RTN | Raytheon * | 151.85 | +1.82 | +1.21% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| MMS | Maximus | 58.03 | +1.85 | +3.30% |
| MANT | ManTech International | 39.64 | +0.77 | +1.98% |
| SAIC | SAIC | 84.67 | +1.25 | +1.50% |
| HON | Honeywell International * | 123.62 | +1.77 | +1.45% |
| LLL | L3 Technologies * | 165.47 | +2.36 | +1.45% |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| ACM | AECOM | 37.91 | -0.49 | -1.28% |
| CSRA | CSRA * | 30.65 | -0.37 | -1.19% |
| CACI | CACI International | 126.35 | -0.10 | -0.08% |
| OA | Orbital ATK | 89.05 | -0.02 | -0.02% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| ACM | AECOM | 37.91 | -0.49 | -1.28% |
| CSRA | CSRA * | 30.65 | -0.37 | -1.19% |
| CACI | CACI International | 126.35 | -0.10 | -0.08% |
| OA | Orbital ATK | 89.05 | -0.02 | -0.02% |
