The GovCon Index rallied late Tuesday afternoon and ended at a narrow gain of 0.033 points to 78.945 as global investors held back over the U.K.’s potential European Union exit and also started to watch world central bank meetings.
CACI International (NYSE: CACI) rose after the Air Force announced the services provider as the recipient of a potential seven-year, $445.9 million satellite network control support contract.
Leaders at the U.S. Federal Reserve started their two-day policy meeting that traders expect to result in no interest rate increase as central banks in the U.K. and Japan are also holding summits this week.
According to Bloomberg, traders are starting to see Britain’s departure from the European Union as a real possibility on new survey data from the country and that has brought volatility to bond markets.
The S&P 500 traded at its lowest level in three weeks in light of the central bank meetings as retail sales rose at a rate in May above analyst expectations, Bloomberg reported.
Top GovCon Index Net Gainers
| Symbol | Company | $ Current Price | Net Change –´ | % Change |
|---|---|---|---|---|
| NOC | Northrop Grumman* | 216.91 | +1.86 | +0.86% |
| LMT | Lockheed Martin* | 239.70 | +1.75 | +0.74% |
| RTN | Raytheon* | 135.76 | +0.85 | +0.63% |
| CACI | CACI International | 99.58 | +0.83 | +0.84% |
| LLL | L-3 Communications* | 145.78 | +0.81 | +0.56% |
Top GovCon Index Percentage Gainers
| Symbol | Company | $ Current Price | Net Change | % Change –´ |
|---|---|---|---|---|
| NOC | Northrop Grumman* | 216.91 | +1.86 | +0.86% |
| CACI | CACI International | 99.58 | +0.83 | +0.84% |
| EGL | Engility Holdings | 22.10 | +0.17 | +0.78% |
| LMT | Lockheed Martin* | 239.70 | +1.75 | +0.74% |
| RTN | Raytheon* | 135.76 | +0.85 | +0.63% |
*Also listed in the S&P 500 composite index
Market Summary
| Advancing GovCon Index Issues | 15 |
| Declining GovCon Index Issues | 15 |
| Unchanged GovCon Index Issues | 0 |
| Index | Value | Net Change | % Change |
|---|---|---|---|
| GovCon Index | 78.945 | +0.033 | +0.042% |
| S&P 500 | 2, 075.32 | -3.74 | -0.18% |
| Dow Jones Industrial Average | 17, 674.82 | -57.66 | -0.33% |
| NASDAQ | 4, 843.55 | -4.89 | -0.10% |
