Executive Mosaic’s GovCon Index endured the roller coaster ride during the holiday-shortened week. Besides closing 0.64% higher on Feb. 23, 2024, the index that tracks the performance of 30 notable government contractors marked six straight winning weeks. At $4,839.92, the week-to-week gain is 1.1%.
Like the GCI, Wall Street’s major indexes advanced more than 1% for the week. The S&P 500 rose above 5,000 for the first time on Friday, while the 31,131.53 closing of the Dow Jones Industrial Average is a new all-time high. The Nasdaq Composite edged lower but is only 60.62 points away from matching its all-time closing high of 16,057.44.
Except for the 0.45% drop on Tuesday, GovCon Index stocks fared better, where gainers outnumbered decliners the rest of the week. Notably, Fluor (NYSE: FLR) tanked 12.73% to start the week. Parsons (NYSE: PSN) made the most significant jump two days later and led 18 advancers. The stock rose 5.51% on Thursday to $79.44 after the company announced obtaining major contracts from a real estate development company in Saudi Arabia and Oakland City’s Department of Transportation.
Check out last week’s market reports for more information on daily GovCon Index performance. To view the full list of tracked companies, click here.
