The GovCon Index rebounded 1.541 percent to 73.980 Friday with all 30 stocks up in movement that mirrored U.S. stocks’ recovery on a sharp rise in crude oil prices and investor confidence in the European Central Bank’s latest stimulus initiative.
Friday’s close puts the Index up at a nominal 0.053 points over five days to post its fourth consecutive weekly gain and the GCI is down 4.33 percent on a year-to-date basis.
The Index has risen 7.89 percent since its early February dive into a correction, when the GCI was down 11.33 percent year-to-date then.
All sectors of the S&P 500 climbed Friday to cut the composite index’s decline from the start of the year to 1.09 percent in a reversal from deep losses spurred by the plunge in oil prices.
According to Reuters, investors are uncertain whether the Federal Reserve will raise interest rates at its March 15-16 meeting as data shows the U.S. labor market is healthy but wage numbers are a concern for central bank policymakers.
Top GovCon Index Gainers
| Symbol | Company | $ Current Price | Net Change | % Change |
|---|---|---|---|---|
| ACM | AECOM | 30.40 | 1.18 | +4.04% |
| MCK | McKesson Corp. * | 166.40 | 5.28 | +3.28% |
| NAV | Navistar International | 11.43 | 0.36 | +3.25% |
| LDOS | Leidos Holdings | 47.59 | 1.39 | +3.01% |
| TXT | Textron * | 33.90 | 0.94 | +2.85% |
* Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 30 |
| Declining GovCon Index Issues | 0 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 73.980 | +0.185 | +0.253% |
| S&P 500 | 2, 022.19 | +32.62 | +1.64% |
| Dow Jones Industrial Average | 17, 213.31 | +218.18 | +1.28% |
| NASDAQ | 4, 748.47 | +86.31 | +1.85% |
