February 9 Market Close: GovCon Index, US Stocks Lift After Trump Tax Policy Hint

Executive Mosaic’s GovCon Index climbed Thursday on strong gains by large aerospace primes and services contractors as all three major U.S. stock indices hit record highs in intraday trade after President Donald Trump said he would give a tax policy announcement in the next few weeks.

GovCon Index gainers outnumbered laggards by a 5-to-1 ratio as eight of its 11 S&P 500 components advanced with co-listed Northrop Grumman (NYSE: NOC) the GCI’s top net performer overall.

Northrop registered a gain above $2.00 and six other GCI stocks moved up at least $1.00 each: CACI International (NYSE: CACI), Lockheed Martin (NYSE: LMT), L3 Technologies (NYSE: LLL), AECOM (NYSE: ACM), Raytheon (NYSE: RTN) and Maximus (NYSE: MMS).

Health and human services contractor Maximus reported first quarter financial results above Wall Street’s forecasts on earnings and revenue.

Co-listed McKesson Corp. (NYSE: MCK) weighed as the GCI’s largest net laggard with ICF (Nasdaq: ICFI) second-lowest and both fell by more than $1.00.

Trump’s pledges of lowered corporate taxes and regulations along with increased defense and infrastructure spending have driven the GovCon Index and U.S. equities to a succession of record highs since his Nov. 8 election win.

Financial shares climbed 1 percent to lead 10 major S&P sectors higher with utilities the only decliner.

Market Summary

Index Value Net Change % Change
GovCon Index 89.470 +0.488 +0.548%
S&P 500 2,307.87 +13.20 +0.58%
Dow Jones Industrial Average 20,172.33 +117.99 +0.59%
NASDAQ 5,715.18 +32.73 +0.58%
Advancing GovCon Index Issues 25
Declining GovCon Index Issues 5
Unchanged GovCon Index Issues 0

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▴ % Change
NOC Northrop Grumman * 234.84 +2.42 +1.04%
LMT Lockheed Martin * 258.20 +1.46 +0.57%
LLL L3 Technologies * 161.50 +1.31 +0.82%
CACI CACI International 127.50 +1.30 +1.03%
ACM AECOM 38.09 +1.06 +2.86%

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▴
EGL Engility Holdings 29.33 +0.91 +3.20%
ACM AECOM 38.09 +1.06 +2.86%
VEC Vectrus 22.48 +0.50 +2.27%
MMS Maximus, Inc. 55.73 +1.03 +1.88%
NAV Navistar International 27.44 +0.50 +1.86%

Lowest GovCon Index Net Performers

Symbol Company $ Current Price Net Change ▾ % Change
MCK McKesson Corp. * 139.71 -1.23 -0.87%
ICFI ICF 49.55 -1.05 -2.08%
GD General Dynamics * 182.59 -0.55 -0.30%
HRS Harris Corp. * 104.49 -0.42 -0.40%
BAESY BAE Systems 30.05 -0.05 -0.17%

Lowest GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change % Change ▾
ICFI ICF 49.55 -1.05 -2.08%
MCK McKesson Corp. * 139.71 -1.23 -0.87%
HRS Harris Corp. * 104.49 -0.42 -0.40%
GD General Dynamics * 182.59 -0.55 -0.30%
BAESY BAE Systems 30.05 -0.05 -0.17%

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