Hello, Guest!
  • Friday, April 19, 2024

August 19 Market Close: GovCon Index, US Stocks Decline as Fed Minutes Go Public


GovConIndexDOWNThe GovCon Index reflected across-the-board declines in U.S. markets Wednesday to record a decline of 0.493 points and close at 76.755.

U.S. stocks recovered some losses incurred during the morning session after the Federal Reserve released its July meeting minutes that said economic conditions to precede an interest rate increase in September have not materialized, according to CNBC.

Fed policymakers believe conditions are approaching that point with improvements in the labor market, CNBC reported in its summary of the minutes.

The Dow Jones Industrial Average fell 0.93 points to 17, 348.73, the S&P 500 composite index declined 17.31 points to 2, 079.61 and the NASDAQ composite index lost 40.29 points to 5, 019.05.

Top Percentage Gainers

Company $ Current Price $ Change % Change
ICF International 36.13 +0.68 +1.92%
Cubic Corporation 42.91 +0.71 +1.68%
SAIC 51.77 +0.12 +0.23%
Rockwell Collins 87.45 +0.17 +0.19%
Northrop Grumman 175.62 +0.12 +0.07%

Market Summary

  Advancing Issues    14 (46.66%)
  Declining Issues    16 (53.33%)
  Unchanged Issues      0

Executive Mosaic’s GovCon Index is a composite index that tracks 30 of the largest publicly-traded Government Contracting (GovCon) firms.

Video of the Day

Related Articles

NuAxis Innovations Names Heather Newlin as Chief Delivery Officer; Raza Latif Quoted Executive Moves

NuAxis Innovations Names Heather Newlin as Chief Delivery Officer; Raza Latif Quoted

Heather Newlin, a GovCon industry executive, has joined federal information technology company NuAxis Innovations as chief delivery officer. NuAxis Innovations CEO Raza Latif announced Newlin’s appointment in a LinkedIn post published Wednesday. “With Heather’s extensive experience in service delivery and her expertise in leading mid-sized federal businesses, I am confident that she will lead us

State Department OKs $140M Sale of Aircraft Contractor Logistics Support to Iraq Foreign Military Sales

State Department OKs $140M Sale of Aircraft Contractor Logistics Support to Iraq

The Department of State has approved the government of Iraq’s request to buy from the U.S. government C-172 and AC/RC-208 aircraft contractor logistics support, training and related equipment through a potential $140 million foreign military sales agreement. Northrop Grumman (NYSE: NOC) will serve as the principal contractor in the FMS transaction, which will enable the

GovCon Index, Major US Indexes Ended With Losses on Weak April Start Financial Reports

GovCon Index, Major US Indexes Ended With Losses on Weak April Start

Executive Mosaic’s GovCon Index rose 0.46% to $4,896.02 Friday as 22 of its constituents advanced. However, the index, which tracks the stock performances of 30 major government contractors, still ended 1.35% lower week-on-week due to the weak start in April. Wall Street’s major indexes closed the week with losses despite bouncing back from their slump.