Executive Mosaic’s GovCon Index fell Wednesday to register a fifth decline over seven sessions in a stretch that puts the GCI in negative territory for August and ends its streak of monthly declines at six as U.S. market speculation over the next rate hike overshadows trading activity.
Investors are looking at Friday’s labor report for July as a gauge of whether the Federal Reserve will move in September or wait until later then the year as futures traders have pegged the odds of a hike next month at 27 percent, according to CME Group’s FedWatch tool.
GovCon Index decliners in Wednesday trade outnumbered advancers at a 2-to-1 ratio and four of the GCI’s S&P 500-listed stocks closed green with Lockheed Martin (NYSE: LMT) the best performer for companies in both indices.
For August, GovCon Index gainers slightly led over decliners and unchanged companies 16-to-14 with defense stocks listed in the S&P 500 and other primes among the more significant drags against the GCI, while six dual-listed companies were negative over the month.
Lockheed rebounded after a three-day streak of losses and shares in McKesson Corp. (NYSE: MCK) also climbed to help pare the GCI’s loss.
Boeing (NYSE: BA) was the GCI’s worst net performer and one of the Dow Jones Industrial Average’s two largest laggers along with Chevron.
The S&P 500 ended its streak of positive months at five and eight S&P sectors fell Friday with energy the lowest at 1.5 percent after the Energy Information Administration said U.S. crude stockpiles added 2.3 million barrels in the week ended Aug. 26.
Crude futures in New York tumbled 3.56 percent to $44.70 but ended August up nearly 8 percent and the Brent benchmark fell 2.75 percent to $47.04 and closes the month at an approximate 11-percent climb.
Market Summary
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 81.153 | -0.064 | -0.079% |
| S&P 500 | 2, 170.94 | -5.18 | -0.24% |
| Dow Jones Industrial Average | 18, 400.88 | -53.42 | -0.29% |
| NASDAQ | 5, 213.22 | -9.77 | -0.19% |
| Advancing GovCon Index Issues | 9 |
| Declining GovCon Index Issues | 21 |
| Unchanged GovCon Index Issues | 0 |
Lowest GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –¾ | % Change |
|---|---|---|---|---|
| BA | Boeing * | 129.45 | -1.36 | -1.04% |
| ACM | AECOM | 30.83 | -1.01 | -3.17% |
| VEC | Vectrus | 33.74 | -0.82 | -2.37% |
| NAV | Navistar International | 14.04 | -0.72 | -4.88% |
| CUB | Cubic Corp. | 46.82 | -0.63 | -1.33% |
Lowest GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –¾ |
|---|---|---|---|---|
| NAV | Navistar International | 14.04 | -0.72 | -4.88% |
| I | Intelsat | 2.70 | -0.11 | -3.91% |
| ACM | AECOM | 30.83 | -1.01 | -3.17% |
| VEC | Vectrus | 33.74 | -0.82 | -2.37% |
| CUB | Cubic Corporation | 46.82 | -0.63 | -1.33% |
Top GovCon Index Net Performers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| LMT | Lockheed Martin * | 242.97 | +3.52 | +1.47% |
| MCK | McKesson Corp. * | 184.59 | +1.56 | +0.85% |
| LDOS | Leidos Holdings | 40.51 | +0.55 | +1.38% |
| GIB | CGI Group | 48.69 | +0.35 | +0.72% |
| HRS | Harris Corp. * | 92.98 | +0.25 | +0.27% |
Top GovCon Index Percentage Performers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| CAE | CAE | 14.23 | +0.23 | +1.64% |
| LMT | Lockheed Martin * | 242.97 | +3.52 | +1.47% |
| LDOS | Leidos Holdings, Inc. | 40.51 | +0.55 | +1.38% |
| MCK | McKesson Corp. * | 184.59 | +1.56 | +0.85% |
| GIB | CGI Group | 48.69 | +0.35 | +0.72% |
