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  • Saturday, April 20, 2024

July 21 Market Close: GovCon Index, US Stocks Plunge on Earnings Results


GovConIndexDOWNThe GovCon Index mirrored across-the-board declines in U.S. stock markets Tuesday with a loss of 1.302 percent to close at 76.143.

Investors reacted negatively to earnings reports from blue chip stocks such as IBM (NYSE: IBM), United Technologies (NYSE: UTX) and Verizon (NYSE: VZ) that either missed forecasts by many market analysts or continued downward trends in revenue and profit, according to CNBC.

Apple (Nasdaq: APPL) and Microsoft (Nasdaq: MSFT) were scheduled to post their results after Tuesday’s closing bell, CNBC reported.

The Dow Jones Industrial Average plunged 1 percent to 17, 919.29, the S&P 500 composite index fell 9.07 points to 2, 119.21 and the NASDAQ composite index declined 10.74 points to 5, 208.12.

Top Percentage Gainers

Company $ Current Price $ Change % Change
Navistar International 18.48 +0.23 +1.26%
AECOM 31.44 +0.24 +0.77%
Intelsat 8.35 +0.06 +0.72%
Leidos Holdings 40.26 +0.08 +0.20%

Market Summary

  Advancing Issues       4 (13.33%)
  Declining Issues     26 (86.66%)
  Unchanged Issues       0

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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