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  • Thursday, April 25, 2024

March 13 Market Close: GovCon Index Sinks, Dollar Rise Sends US Stocks Down


GovConIndexDOWNThe GovCon Index mirrored widespread losses across U.S. markets Friday with a decline of 0.588 points to close at 67.895.

Navistar (NYSE: NAV) and Orbital ATK (NYSE: OA) were the only Index companies to record gains for the day.

Another strong day for the U.S. dollar against the euro could foreshadow future corporate earnings announcements and signals an increase in cost of U.S. exports, the Wall Street Journal reports.

The Euro declined 1 percent to $1.0523 Friday and is down 5 percent against the dollar over the past 30 days through Thursday, according to the Journal.

The Dow Jones Industrial Average plunged 145.91 points to 17, 749.31, the S&P 500 composite index declined 12.55 points to 2, 053.40 and the NASDAQ composite index sank 21.53 points to 4, 871.76.

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

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