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  • Friday, November 22, 2024

September 9 Market Close: GovCon Index Follows Markets with a Sharp Decline


GovConIndexDOWNExecutive Mosaic’s GovCon Index closed down sharply to reach a two month low. The Index retreated back to levels not seen since early July with all thirty companies declining.

Markets responded to intensified fears that the Federal Reserve could finally pull the trigger on raising rates after a nearly ten month hiatus.

Companies have benefited from lower borrowing costs which have been reflected in their stock prices. Investors responded to the potential of the Fed tightening interest rates.

 

Market Summary

Index Value Net Change % Change
GovCon Index 79.822 -1.879 -2.30%
S&P 500 2, 127.81 -53.49 -2.45%
Dow Jones Industrial Average 18, 085.45 -394.46 -2.13%
NASDAQ 5, 125.91 -133.57 -2.54%
Advancing GovCon Index Issues 0
Declining GovCon Index Issues 30
Unchanged GovCon Index Issues 0

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change –¾ % Change
MCK McKesson Corp.* 176.09 -6.95 -3.80%
BA Boeing* 128.53 -4.37 -3.29%
RTN Raytheon* 136.08 -3.60 -2.58%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change –¾
I Intelsat 2.65 -0.20 -7.02%
CAE CAE 13.85 -0.64 -4.42%
ACM AECOM 28.86 -1.28 -4.25%

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