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  • Saturday, April 20, 2024

March 15 Market Close: GovCon Index Up, as Markets React Positively to the Federal Reserve Rate Increase


Executive Mosaic’s GovCon Index closed up on the day as markets responded positively to the Federal Reserve raising the benchmark lending rate.

Not to anybody’s surprise the Federal Reserve raised rates by one quarter point to 1.0 percent, while also giving a strong indication for two additional rate increases later in the year.

Of the thirty stocks that make up the GovCon Index all but two advanced on the day with Navistar (NYSE:NAV) up 5.40 percent and Cubic (NYSE:CUB) up 2.46 percent leading the way.  

WTI reversed is downward slid closing up 2.47% to $48.90 per barrel; still off it’s thirty day high of $54.45 (from Feb. 23).

Market Summary

Index Value Net Change % Change
GovCon Index 93.593 +0.71 +0.764%
S&P 500 2,385.26 +19.81 +0.84%
Dow Jones Industrial Average 20,950.10 +112.73 +0.54%
NASDAQ 5,900.05 +43.23 +0.74%
Advancing GovCon Index Issues 28
Declining GovCon Index Issues 2
Unchanged GovCon Index Issues 0

Top GovCon Index Percentage Performers

Symbol Company $ Current Price Net Change ▴ % Change
NAV Navistar 27.32 +1.40 +5.40%
CUB Cubic Corp. 52.15 +1.25 +2.46%
VEC Vectrus 22.11 +0.48 +2.22%
LDOS Leidos Holdings 54.87 +1.19 +2.22%
MANT ManTech Intern. 36.87 +0.80 +2.22%

Top GovCon Index Net Performers

Symbol Company $ Current Price Net Change % Change ▴
GD General Dynamics * 191.66 +1.91 +1.01%
CACI CACI Intern. 125.45 +1.75 +1.41%
OA Orbital ATK 101.46 +1.40 +1.40%
NAV Navistar Intern. 27.32 +1.40 +5.40%
LMT Lockheed Martin * 269.40 +1.40 +0.52%

*Companies Included in S&P500 Index

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