Author: Aidan Daly|| Date Published: October 7, 2024
Executive Mosaic’s GovCon Index recorded a substantial weekly gain after ending higher on Friday at $5,469.34. Besides the 2.34% week-on-week gain, the index, which tracks the stock performances of 30 major government contractors, extended its winning streak anew.
The escalating tensions in the Middle East triggered a rally of defense stocks on Oct. 1, while major U.S. indexes ended negative. Israel launched a ground attack on Lebanon a day before, and Iran retaliated with missile attacks. The GovCon Index finished with gains, while major U.S. indexes ended negative.
Investors’ sentiment improved before the weekend following healthy jobs numbers. Based on the Bureau of Labor Statistics data, the U.S. economy added 254,000 new jobs in September compared to 142,000 in August, while the unemployment rate fell to 4.1% from 4.2%.
According to some market analysts, the Feds might implement less aggressive rate cuts until year-end or in November and December. Inflation is declining towards its 2% target and the labor market continues to display resiliency.
Matthew Tait, president and CEO of ManTech, has accepted the 2025 Wash100 Award from Executive Mosaic CEO Jim Garrettson. The prestigious annual award…
Deltek has unveiled the latest version of Costpoint, an enterprise resource planning platform designed to help government contractors improve collaboration,…
President Trump’s March 20 executive order “Eliminating Waste and Saving Taxpayer Dollars by Consolidating Procurement” has major ramifications for GovCons.…
The General Services Administration has awarded Uber a five-year blanket purchase agreement to provide ridesharing services for federal employees, military…
Phyllis Baker, a seasoned public sector consultant and cybersecurity professional, has been appointed senior vice president at Glasswall. Continuing Glasswall’s Data Security…
The U.S. Navy has awarded Bowhead Weapons Development Solutions a $99.9 million firm-fixed-price and cost-reimbursable, indefinite-delivery/indefinite-quantity contract to provide engineering,…
