July 23 Market Close: GovCon Index Follows Blue Chips to Close Down

GovConIndexDOWNThe GovCon Index closed down for the third consecutive day losing 0.146 points to 75.915.

Caterpillar (NYSE:CAT), 3M (NYSE :MMM), and American Express (NYSE:AXP) all turned in disappointing results dropping more than 2.5% on the day.

A sluggish international market and strong U.S. dollar have impacted global operations for multinational companies.

The Dow Jones Industrial Average dropped to 17, 731.95 off 119.09 points, the S&P 500 composite index slipped 12.00 points to 2, 102.15, and the NASDAQ composite index declined 25.36 points to 5, 146.41.

Raytheon was the big winner on the GovCon Index being up $6.22 or 6.41% to close at $103.21

Market Summary

  Advancing Issues       8 (26.77%)
  Declining Issues      21 (70.00%)
  Unchanged Issues        1 (3.33%)

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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